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As economic and political tension between the U.S. and China has recently been rising, the association backing Facebook’s planned Libra stablecoin cryptocurrency finds itself navigating through the superpowers’ high-stakes drama. This week, Bloomberg reported that Facebook delivered a series of wri..
News Switzerland’s Financial Market Supervisory Authority (FINMA) has published a stablecoin-focused supplement to its existing guidelines for initial coin offerings (ICOs). In a news release published on Sept. 11, FINMA takes note of the steadily proliferating issuance of stablecoins since mid-20..
News Facebook is seeking a payment system license under Switzerland’s Financial Market Supervisory Authority (FINMA) for its planned stablecoin project, Reuters reported on Sept. 11. “Regulated, low-friction, high-security” blockchain paymentsIn an official statement today, the Switzerland-regist..
News Developers working for startup OpenZeppelin, a third-party audit firm specializing in cryptocurrency, have discovered and patched a vulnerability in Facebook’s Libra’s open-source code. The problemAccording to an article by Coindesk on Sept. 10, the crypto auditing firm found vulnerabilities ..
News Facebook’s Libra stablecoin must meet the highest Anti-Money Laundering (AML) and terrorism financing standards, according to United States Treasury Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker. Major business news outlet Reuters reported Mandelker’s remarks on Sept..
News Social media giant Facebook, which is currently trying to get regulatory approval for its Libra stablecoin project, reportedly shared details regarding the project’s proposed backing reserves. According to a report by Bloomberg on Sept. 9, Facebook told United States senators about the backin..
News Former United States Representative Harold J. Ford has argued that Congress should have a nuanced approach to regulating cryptocurrencies. In an article published on CNBC on Sept. 5, Ford said that lawmakers and regulators should develop clear regulations toward digital currencies. He noted a..
While the bulk of the negative comments surrounding Facebook’s Libra have come from regulators, some financial analysts say the proposed cryptocurrency project could face massive operational issues. These problems reportedly affect cryptocurrencies designated as stablecoins. Meanwhile, opposition t..
News Chairman of the United States Federal Reserve Jerome Powell said that the United States Federal Reserve is monitoring digital currencies carefully, but not working on its own at the moment. Speaking at a forum in Zurich, Switzerland, on Sept. 6, Powell addressed the issue of cryptocurrencies,..
News Social media giant Facebook has hired two more lobbyists to aid the release of its forthcoming Libra stablecoin. As Bloomberg reported on Sept. 5, lobbying disclosures filed earlier this week revealed that William Hollier, the president of legislative and regulatory counseling firm Hollier As..