Libra Could Drop ‘Basket’ and Issue Individual Fiat Stablecoins

The Facebook-led Libra project may consider a fundamental change to the way its planned global payments system will operate, according to its chief. Speaking at a banking seminar, according to a Reuters report on Sunday, co-creator of Libra David Marcus said that the firm could consider dropping the currently planned “synthetic” stablecoin – which is […]

Continue Reading

Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra’s Regulator

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law. “Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority […]

Continue Reading

Bitcoin Noticeably Absent From Senate Hearing on Facebook’s Libra

For a panel about a proposed cryptocurrency, Tuesday’s Senate Banking Committee hearing was notably light on crypto talk. Bitcoin was barely mentioned during the two-hour session and most of the lawmakers seemed far less concerned with the technology than with who was planning to leverage it: Facebook. Sen. Brian Schatz (D-Hawaii) put it perhaps the […]

Continue Reading

Facebook to Senators: Libra Crypto Will Respect Consumer Privacy

Facebook blockchain lead David Marcus told U.S. lawmakers that the social media giant plagued by privacy scandals won’t have access to personal financial information with its new cryptocurrency. In a letter dated Monday to the Senate Banking Committee responding to pointed questions the lawmakers sent in May, Marcus took a diplomatic tone, acknowledging the panel’s […]

Continue Reading