All posts in Libra

Regulators should prohibit cryptocurrencies like Libra, EU finance ministers say in joint statement

Digital “stablecoin” currencies like Facebook’s Libra project shouldn’t be permitted until regulators can assess and address the risks involved, according to a joint statement from Europe’s finance ministers. The statement solidifies past skepticism voiced by EU authorities, and likely amounts to a de facto ban on stablecoins—cryptocurrencies that, unlike bitcoin, are tied to an asset such as conventional currencies.  […]

Visa, Mastercard, and eBay abandon Facebook’s Libra cryptocurrency project

Visa, Mastercard, and eBay abandon Facebook’s Libra cryptocurrency project

Facebook’s Libra cryptocurrency project suffered a major setback on Friday with the withdrawal of Visa, MasterCard, eBay, and other payment firms, according to BBC News and Ars Technica. PayPal had already announced plans to withdraw from the project last week. The companies were slated to join the Libra Association, a Geneva-based organization that would develop and manage the […]