Libra

Facebook will cease membership in the Libra Association if a project to create the digital currency of the same name is launched without the consent of the regulator. The head of the world's largest social network, Mark Zuckerberg, said this on Wednesday, October 23, during a hearing in the US Congress. The hearing at the House of Representatives Financial Services Committee lasted several hours, during which Zuckerberg […]

Economist Stephen Moore, an agent of Donald Trump, co-founded Frax, which will release the eponymous stablecoin to compete with central banks, Fortune reports. Its partners were Sam Cazemian, co-founder of Everipedia (a blockchain competitor to Wikipedia) and former adviser to the Reagan administration Ralph Benko. “Central banks will soon feel competition from private currencies like Frax. The days of state currency monopoly are numbered, ”said Moore. Is he […]

The G20 said that stablecoins threaten the global monetary system and financial stability, and asked the IMF to assess the risks associated with them, reports Reuters. G20 countries will develop stablecoins based on recommendations from the Financial Stability Board (SPS) and the Anti-Money Laundering Development Group (FATF), which will provide relevant conclusions in 2020. “Until […]