A week has passed since Mark Zuckerberg took the stand to be the sole witness testifying before the United States House of Representatives Committee on Financial Services about his Libra strategy and any recent developments. The majority of Congressmen took it upon themselves to blast the young entrepreneur on what they perceived as the evil…
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It has been three months since David Marcus, the titular head of Facebook’s Libra project, took the heat at Congressional hearings on Capitol Hill in Washington DC. As we reported at the time: David Marcus, Facebook’s lead for the Libra cryptocurrency and the sole representative designated to take the heat from an angry group of…
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Libra, having faced extreme scrutiny from regulators, has reportedly decided to turn its sight to a more regulatory-friendly zone: national currencies. Reuters reported on Sunday that Facebook is currently considering pegging the Libra cryptocurrencies to national ones. One option is the dollar. The main goal of Facebook is to develop a more efficient payments system.…
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After the solid rumours that Facebook's Libra is going to be postponed for 2020, Zuckerberg is now facing Congress on the 23rd of October. With that there were also speculations that the COO of the company, Sheryl Sandberg may also testify regarding the project. The information comes directly from CNBC. Mark Zuckerberg will be the…
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The cryptocurrency project of Facebook, Libra, got immense attention from regulatory bodies. Leaprate last reported that the cryptocurrency launch may be delayed some time in 2020. This is not what Zuckerberg wanted, but at the end Facebook vouched for complying with all regulatory issues before launching Libra. But what happens when Libra's partners start to…
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Facebook's ambitious cryptocurrency venture, Libra, has financial regulators around the world on their feet and thinking how a tech company's digital currency rival with national fiat ones, established monetary policies and even national security. All of these concerns and many more have now caused the launch of Libra to get delayed, most likely up until…
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Facebook’s intentions for the world of cryptocurrencies and blockchain technology have always been shrouded in mystery as far back 2017 when Morgan Beller was placed in charge of blockchain initiatives. When David Marcus was transferred from Facebook’s Messenger service to a new blockchain division in May of 2018, rumors began to fly about a potential…
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The Libra “coals” are heating up again. The Bank for International Settlements (BIS), the central bank for all other central banks, is concerned about the Libra Project. At its behest, it has arranged for a major meeting to take place between representatives from Facebook’s Libra executive team and officials from 26 central banks across the…
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The buzz around Facebook's Libra stablecoin is gone off through the roof, as some might say. The truth is that the cryptocurrency project undertaken by Facebook has shaken regulatory bodies around the world so "violently" that they cannot simply decide if Libra is a huge opportunity or huge threat. However, there are certain details around…
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Just when Mark Zuckerberg and his executive team had thought that the nasty news about Facebook and its Project Libra had died down a notch, out comes Yves Mersch, executive board member at the European Central Bank (ECB), with a blistering attack that opened up old festering wounds. “Treacherous promises”, and “Cartel-like behavior” are not…
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