#Libra News

Guys looking at Libra on whiteboard perplexed

Japan Joins Brigade of Libra-Cautious Countries

September 24, 2019 by Ashwath Balakrishnan at Altcoins

After several of the most powerful countries voiced their concerns regarding Libra, Japan has joined in on urging for a cooperative framework to mitigate the risks posed by Libra. Reuters reports events from a meeting between Bank of Japan officials and business persons in Osaka, September 24, 2019. Growing Uncertainty for...

China National Blockchain Network Goes Live April 2020

China Avoids Rushing the Launch of its Central Bank Digital Currency

September 24, 2019 by Ashwath Balakrishnan at Altcoins

Chinese officials have confirmed that they have no timetable in place for the launch of their central bank digital currency (CBDC). This comes just weeks after a formal announcement by the PBoC that a launch is being scheduled by year-end. Global Times reports, September 24, 2019, that China is actively...

A coin looking pretty stable on some rocks

IMF Contemplates the Risks and Rewards of Stablecoins

September 20, 2019 by Osato Avan-Nomayo at Altcoins

The International Monetary Fund (IMF) published a new staff paper on September 19, saying stablecoins can cause significant disruptions to the current global payments framework. However, the organization also admits that this type of cryptocurrencies can contribute to improving financial inclusion across the world. Disintermediation of the Finance Sector According...

Facebook Met U.K. Regulators Months Before Libra Announcement

September 19, 2019 by Ashwath Balakrishnan at Altcoins

Facebook has endured several setbacks in launching Libra as governments are finding it difficult to allow it to run without robust AML practices. Reuters revealed that Facebook has multiple meetings with the finance ministry and various regulators in the U.K (FCA, BoE), September 18, 2019. Facebook's Pre Launch Discussions Before Libra was...

Libra looking over a tower of bank notes

David Marcus: Libra Cryptocurrency is not a Threat to Sovereign Currencies

September 16, 2019 by Anthonia Isichei at Altcoins

Facebook executive David Marcus, has come out to debunk reports about the Libra cryptocurrency being a threat to sovereign currencies, in a thread on September 16, 2019. Working With, Not Against There have been reports that Facebook’s cryptocurrency, libra, was created to threaten sovereign currencies of nations. This sentiment is...

Paypal Man Sitting Next to Libra wondering what it is all about

PayPal Cautiously Believes in Libra’s Potential Despite Regulatory Concerns

September 16, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Paypal, an American centralized payments services company has made it clear that it firmly believes in the potential of the social media giant's global cryptocurrency project despite the intense scrutiny of governments and central banks on Libra, as well as the regulatory bottlenecks surrounding the cryptoasset, according to a Channelnewsasia...

Cryptocurrencies standing proud waving the French flag blockchain

France: Crypto-to-Crypto Transactions Tax-Exempt Unless Traded for Fiat

September 13, 2019 by Ashwath Balakrishnan at Bitcoin

France has welcomed cryptocurrency investments by announcing that crypto to crypto transactions will be tax-exempt, and necessary taxes will be applied only when selling crypto for fiat currency. According to Bloomberg Tax, France will also introduce a value-added tax (VAT) for transactions where crypto is directly used to purchase goods and...

Europe’s Five Largest Economies Form Anti-Libra Coalition

France Finance Minister Intends to Block Facebooks Libra Cryptocurrency in Europe

September 13, 2019 by Anthonia Isichei at Altcoins

The French Finance Minister has vehemently stated that Facebook’s cryptocurrency, Libra, would not be given a chance to develop on European soil. According to a report by RT on September 12, 2019, Facebook’s cryptocurrency is risky for the European market. Libra is a Threat to Sovereign Currencies Bruno Le Maire,...

Facebook’s Libra Seeks Swiss Payment System License

September 12, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Facebook’s Project Libra has applied for a payment system license from the Swiss Financial Market Supervisory Authority (FINMA). FINMA says Libra’s service offerings will, however, require a broader oversight that would include operational risks, liquidity and more, according to a Reuters report on September 11, 2019. Facebook Forging Ahead with...

Swiss data Commisioner Switzerland Flag binoculars witnesses Libra

Swiss Regulator Issues Guidance on Libra and Stablecoins

September 11, 2019 by Ashwath Balakrishnan at Altcoins

According to a notification issued by FINMA, the regulator has confirmed that stablecoins will be treated just like any other blockchain-based token in Switzerland, September 11, 2019. The Libra Association requested FINMA to disclose how the network would be treated, and the regulator has stated that Libra will be classified...

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