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Libra Seen as Threat to National Currency Sovereignty, Pleads With G-7

Analysis Public authorities across the globe continue to press the developers of Libra, Facebook’s proposed stablecoin-like digital asset. On Sept. 16, Libra representatives met with the Committee on Payments and Market Infrastructure (CPMI), a part of the Bank for International Settlements (BIS)..

ECB Official: Stablecoins Pose Risks to Public Policy Priorities

News A board member of the European Central Bank (ECB) has argued that stablecoins like Facebook’s long-awaited Libra coin pose risks to public policy priorities. ECB board member Benoit Coeure delivered his comments on stablecoins’ regulatory issues at a meeting at the Bank of International Settl..

Libra Does Not Threaten Sovereignty of Nations, Says Calibra CEO

News CEO of Calibra, Facebook’s digital wallet for its proposed Libra stablecoin, has attempted to debunk the notion of Libra’s threat to the global financial system. Not new money but a better payment networkAmid the ongoing meeting between Libra founders and 26 global central banks in Basel, Cal..

Bitcoin Is a Hedge Against Gov’t ‘Fiscal Irresponsibility’ — Analyst

News Equities portfolio manager turned crypto fund executive Travis Kling has argued that Bitcoin (BTC) has come into its own as a unique hedge within the current macroeconomic climate. In an interview with CNN on Sept. 15, Kling argued that the specific properties of Bitcoin make it an exceptiona..

Circle CEO: No One in the World Is Any Closer to CBDCs than China

News China has the most progressive approach to central bank digital currencies (CBDCs) to date, according to Circle CEO Jeremy Allaire. The only global bank to really care Allaire said that China’s central bank has the most advanced thinking about CBDCs in an interview aired on Phoenix Chinese Ne..

China’s National Crypto Similar to Libra, Central Bank Official Says

News A top official at China’s central bank has confirmed that the country’s forthcoming digital currency will bear similarities to Facebook’s Libra token. The English-language website of the Hong Kong Economic Journal reported the news on Sept. 6, citing prior coverage by Shanghai Securities News..

IMF Chief Christine Lagarde Encourages Open Cryptocurrency Regulation

News European Central Bank (ECB) president candidate and International Monetary Fund (IMF) chief Christine Lagarde stated on Sept. 4 that central banks and financial supervisors should protect consumers but also be open to innovation such as cryptocurrencies. Changes are opportunitiesDuring her op..

Dutch Central Bank: Crypto Firms to Be Regulated as of January 2020

News The Dutch central bank has today revealed it will begin regulating firms that offer cryptocurrency-related services as of Jan. 10, 2020. Reuters reported on Sept. 3 that De Nederlandsche Bank clarified that relevant firms in the sector must register with the institution if they wish to contin..

ECB’s Yves Mersch Warns Libra Cryptocurrency Is ‘Facebook’s Siren Call’

News Yves Mersch, European Central Bank’s key legal official, said that Facebook’s Libra stablecoin is “beguiling but treacherous” during a speech at the ECB’s legal conference in Frankfurt on Monday. Bloomberg reported on Mersch’s remarks in an article published on Sept. 2. Per the report, he sai..

Should Crypto Stay Decentralized or Are CBDCs Better? Experts Answer

Experts Answer There are several countries around the world that are developing national blockchain-based digital currencies — such as Venezuela and its state-owned Petro (PTR), China and its plans to issue a government-backed digital currency, etc. We reached out to experts in the crypto and bloc..

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