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French Finance Minister Warns He ‘Cannot Countenance’ Facebook’s Libra

News France’s economy and finance minister has repeated his criticism of Facebook’s digital currency Libra, saying he cannot allow its existence. Le Maire: France has “clear position” on LibraIn an opinion piece for the Financial Times on Oct. 17, Bruno Le Maire claimed Libra would take power over..

Bitcoin Is Totally Different Than Libra: Calibra Head David Marcus

News ⁠David Marcus, the head of Facebook’s forthcoming cryptocurrency wallet Calibra, said that he is a fan of Bitcoin (BTC), but it is totally different than the proposed Libra stablecoin. Bitcoin is digital gold, Marcus SaysIn a Squawk Box interview on Oct. 16, Marcus stated that he has been loo..

Bermuda Becomes First Gov’t to Accept Tax Payments in USDC Stablecoin

News Global financial services company Circle announced that Bermuda became the first government to accept its stablecoin USD Coin (USDC) for tax payments. Part of a broader government initiative to embrace stablecoinsAccording to a press release shared with Cointelegraph on Oct. 16, this developm..

RBC Analysts: Squashing Libra Could Boost China’s Digital Currency

News Analysts at RBC Capital Markets have suggested that stifling Facebook’s Libra may leave the field open to China’s central bank digital currency (CBDC) to dominate in emerging economies. China shifts development of digital currency in extra gearOn Oct. 15, financial news outlet Markets Insider..

Bank of England Governor Carney Defends Facebook’s Libra Stablecoin

News Bank of England governor Mark Carney has defended Facebook’s choice to create a new currency. Canadian news outlet TheStar reported Carney’s remarks on Oct. 15, noting that he highlighted the shortcomings of the current traditional financial system. Because of the inefficiency of the payments..

Booking Holdings Leaves Facebook’s Libra Association

News Leading online travel company Booking Holdings has ditched the Libra Association, the governing consortium of Facebook’s proposed Libra stablecoin. Booking Holdings has thus become the latest in an array of companies that abandoned the project, leaving it with 21 founding members out of the i..

US Treasury Secretary Says Firms Left Libra Due to Compliance Issues

News United States Treasury Secretary Steven Mnuchin has attributed the recent spate of firms abandoning Facebook’s Libra stablecoin project to regulatory concerns. On CNBC’s Squawk Box on Oct. 14, Mnuchin stated that companies are abandoning the Libra project because it is “not up to par” with Am..

Ethereum Is No Longer a Monopoly Platform for Stablecoins

Expert Take Just a few years ago, it was hard to imagine that a stablecoin would come to represent a significant portion of the cryptocurrency industry. Market players tended to base their money-making strategies on a cryptocurrency’s volatility rather than its stability. There were only 11 stable..

How Severe Is Roche Freedman’s Lawsuit Against Tether and Bitfinex?

Analysis At the start of October, New York-based legal firm Roche Freedman filed a new class-action lawsuit against stablecoin firm Tether and digital currency exchange Bitfinex. The case accuses the aforementioned entities of manipulating the market by using a host of sophisticated schemes that i..

UK’s Central Bank Establishes Provisions for Facebook’s Libra

News The United Kingdom’s central bank has established provisions that Facebook’s yet-to-be-released Libra stablecoin must comply with in order to be issued in the country. The Bank of England presented its latest Financial Policy Summary and Record at a Financial Policy Committee (FPC) meeting he..

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