Libra

What Are Stablecoins?

A “stablecoin” is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price. Cryptocurrencies such as Bitcoin and Ethereum offer a number of benefits, and one of the most fundamental is not requiring trust in an intermediary institution to send payments, which …

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Carpe ‘Diem’: Lawsuit threatened over Facebook’s Libra rebrand plan

Facebook has been hit with threats of legal action over its plan to rebrand the Libra stablecoin project to ‘Diem’ from a finance application of the same name. Facebook announced its plan to rebrand Libra on Dec. 1, with the firm claiming the new name would help the revamped project distance itself from the intense …

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Testnet of Facebook’s Much Vaunted Stablecoin Only Executes 6 Transactions per Second

Asset Manager Vaneck Launches Physically-Backed Bitcoin Exchange-Traded Note On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exchange-traded note is physically-backed by bitcoin and listed on the trading exchange Deutsche Böerse Xetra. The newly listed … read more. Major Australian Investment Firm …

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New Draft U.S. Law Will Make It Illegal To Issue Stablecoins Without Federal Reserve Approval

<div class=”featured_image_container”> </div> <strong>Three U.S. lawmakers have introduced a bill that will force private stablecoin issuers to obtain a banking charter (or license) and approval from the Federal Reserve before they can issue a stablecoin.</strong> Instigated by Rep. Rashida Tlaib, with support from Reps. Jesús García and Stephen Lynch – all of them Democrats – …

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Spotify Looking for Associate Director to Lead Activity on Libra Project, Other Crypto Efforts

The world’s largest music streaming service is on the hunt for a new associate director to lead its activity within the Libra stablecoin project, recently rebranded to Diem. According to an announcement, Spotify is looking for an associate director to join its Payment Strategy and Innovation team. The successful candidate will be responsible for defining …

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Facebook’s cryptocurrency project rebrands as Diem

Chip Somodevilla via Getty Images In the run-up to a rumored 2021 debut, Facebook has announced that the body behind its cryptocurrency project is being renamed. The Libra Association, which was designed to build a legal framework and support the coin itself, has now been rebranded as the Diem Association. In a statement, the body …

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Facebook’s Libra currency to launch next year in limited format

Enlarge NurPhoto | Getty Images The long-awaited Facebook-led digital currency Libra is preparing to launch as early as January, according to three people involved in the initiative, but in an even more limited format than its already downgraded vision. The 27-strong Libra Association said in April that it had planned to launch digital versions of …

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Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin

The long-awaited digital currency Libra could finally see the light of day as soon as January 2021, according to a new report. Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27. Citing three people …

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Libra Plans Dollar-Pegged Stablecoin Launch in January 2021: Report

Libra, the Facebook-initiated stablecoin project that’s been targeted continuously by lawmakers, might get off the ground as early as January 2021, albeit in a more limited format than the original multi-currency basket envisioned. According to a report by the Financial Times on Friday, instead, Libra may launch a single dollar-pegged stablecoin next year, according to “three people …

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BIS report suggests ‘embedded‘ monitoring tool for stablecoins

Facebook’s proposal for its digital currency, Libra, was a wake-up call for international regulatory agencies, finance ministries and central bankers. All these actors recognized that the company’s reach across its three platforms had the potential to accelerate adoption of a global stablecoin to an unprecedented extent. In a new paper from the Bank of International …

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