Stablecoin
Facebook-backed crypto Diem to launch US stablecoin in major shift
Digital currency group Diem Association, formerly known as Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the US, the grou...
Visa moves to allow payment settlements using cryptocurrency
Visa has said it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the...
Facebook-backed digital coin Libra rebrands itself as Diem
Facebook-backed cryptocurrency Libra was rebranded “Diem” in a renewed effort to get regulatory approval by dreading the project’s genuine independence.
Facebook’s Libra is to launch as early as January but scaled back
The Switzerland-based Libra Association which will issue and regulate Libra intends to launch a single electronic coin backed by the buck, the FT newspaper has said.
Facebook’s Libra taps ex-HSBC exec as CFO of payments unit
Another former HSBC executive is heading into the Facebook-backed Libra cryptocurrency project, joining as chief financial officer of a unit tasked with handling the projected digi...
G7 vows to fight ransomware attacks; say stablecoin needs regulation
Fiscal leaders of this world’s seven biggest economies on Tuesday pledged to fight rising ransomware strikes amid the COVID-19 pandemic, also said no stablecoin surgery shoul...
G7 draft: Facebook’s Libra must not start until properly regulated
Financial leaders of this world’s seven largest economies will state on Tuesday that they oppose the launch of Facebook’s Libra stablecoin before it’s properly re...
EU nations call for cryptocurrency curbs to protect consumers
Germany, France, Italy, Spain and the Netherlands called on the European Commission to draw up regulation for asset-backed cryptocurrencies to protect consumers and maintain state ...
Bank of England says regulators must stay ahead of stablecoins
Financial regulators need to avoid playing catch up with electronic payment methods such as stablecoins and crypto-assets, the Bank of England’s new Governor Andrew Bailey ha...
Facebook’s Libra cryptocurrency gets revamp in response to backlash
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory...
G20 sets ground rules ahead of Facebook’s Libra stablecoin
The world’s leading economies need to plug gaps in their rulebooks to avoid digital currencies like Facebook’s planned Libra stablecoin from undermining financial stabi...
Global financial watchdogs take aim at Big Tech’s data dominance
LONDON (Reuters) – Google, Alibaba and other “Big Tech” companies could be forced to share data on financial services customers with banks and financial technolog...
European Union agrees tough line on digital currencies
BRUSSELS (Reuters) – Private digital currencies like Facebook’s Libra should not be allowed in the European Union until the risks they could pose are clearly addressed,...
Crypto backed by crypto: Dai seeks to change ‘stablecoin’ game
LONDON (Reuters) – Some are backed by dollars. Others by gold. But this “stablecoin” isn’t tied to any major asset – it’s backed by another cryp...