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Most European Regulators Have Scrutinized Facebook's Libra, Except One: Who’s the Odd One Out?

What happened recently with the Libra Association? Made up of more than two dozen companies and based in Geneva, a few of the founding members, including PayPal, Mastercard, Visa, Stripe, Booking Holdings, and eBay, decided to leave the Libra project. A five-member board governance board was formed after the Libra Association reaffirmed its commitment by holding its inaugural meeting in Geneva, Switzerland, on Oct. 14. … Continue reading Most European Regulators Have Scrutinized Facebook's Libra, Except One: Who’s the Odd One Out?

Why Facebook's Libra Is Not A Real Cryptocurrency

First of all, the Libra white paper does not mention anything about the United States. There is not a single reference to the dollar, US regulatory system or legal structure. This is ironic because the founding members of Libra come from an American company. In the past, Soros sponsored hedge funds had caused trouble in … Continue reading Why Facebook's Libra Is Not A Real Cryptocurrency

Facebook Libra: The Latest Crypto Used in Illegal Financial Activities?

“With the evolution of virtual currencies and new marketplaces, nefarious actors are continuously adapting to find new ways to engage in illegal financial activity.” said U.S. Representatives Emanuel Cleaver, during the briefing with Financial Crimes Enforcement Network (FinCEN) on 27 June. The discussion with FinCEN focused on the use of AI and ML technology to … Continue reading Facebook Libra: The Latest Crypto Used in Illegal Financial Activities?

Response to Facebook Libra? EU Banks Can Deploy Payment System By 2020

All banks in the eurozone could share the instant payment system at the end of 2020, as reported by Reuters on 26 June. The real time payments are available since 2017. However, only half of the banks in the eurozone have adopted the technology and it is mainly used for domestic payments. Now, the adoption … Continue reading Response to Facebook Libra? EU Banks Can Deploy Payment System By 2020

Exclusive: Did Facebook Copy Hedera Hashgraph's Governance Model?

Exclusive interview with Sami Mian: Part 1 “Imitation is the sincerest form of flattery.” When Facebook released Libra’s whitepaper, Hedera Hashgraph allegedly “thanks” Facebook for imitating their governance model, what is the story behind? We spoke exclusively with Sami Mian, the Head of Japan and Korea for Hedera Hashgraph, to reveal the hidden story of … Continue reading Exclusive: Did Facebook Copy Hedera Hashgraph's Governance Model?

US Senator Sherrod Brown: Facebook is delusional

“Mark Zuckerberg said that Facebook is more like a government than a company. That’s delusional.” US Senator Sherrod Brown said in a video tweet by NowThis News. The video was released a few hours after Facebook’s hearing with the Senate Banking Committee. In the video, Brown added “We have to protect our democracy. We should … Continue reading US Senator Sherrod Brown: Facebook is delusional

What are the 7 Key Takeaways from Facebook's Libra Hearings?

The debate on Facebook’s Libra continues with the hearing with the Senate Banking Committee (“Senate hearing”) on 16 July and the United States House Committee of Financial Services (“House hearing”) on 17 July. Here are the 7 key takeaways from the two hearings. Libra is centralized Regulators believed that the composition of the Libra Association … Continue reading What are the 7 Key Takeaways from Facebook's Libra Hearings?

Huawei’s CEO Responds to Facebook: China Can Issue Its Own Libra

Ren Zhengfei, CEO of China’s Huawei believes that China can create their own digital currency in response to Facebook’s Libra. In an interview with the Italian media, in response to a question, Ren Zhengfei responded with “China can also issue such currency by itself. Why wait for others to issue it?” Reported earlier this month, … Continue reading Huawei’s CEO Responds to Facebook: China Can Issue Its Own Libra

Blockchain, Bitcoin, Libra, Facebook

I’ve been told my “definition” of Blockchain differs from the “commonly used” one. This is probably true, so I decided to examine why. First of all, what’s meant by “commonly used”. I have a problem with this idea because I’m yet to understand the parameters of “commonly used”, and am still trying to understand what … Continue reading Blockchain, Bitcoin, Libra, Facebook

Will Facebook Ever Be Able to Launch Libra?

In recent speculation, Facebook has acknowledged that there are several regulatory issues that is preventing the progress of launching Libra globally. “There can be no assurance that Libra or our associated products and services will be made available in a timely manner” Facebook mentioned in its filing with the Securities and Exchange Commission. The filing added, “These laws and regulations, … Continue reading Will Facebook Ever Be Able to Launch Libra?