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Crypto Lobby Fights to Contain Backlash From Facebook’s Libra
Crypto Lobby Fights to Contain Backlash From Facebook’s Libra
Senator Brian Schatz, a Democrat from Hawaii, may offer legislation that would have the effect of making currencies such as Libra illegal, according to a draft of the bill reviewed by Bloomberg. The legislation would amend a U.S. statute originally meant to prevent Americans from minting their own physical currencies. The amendment would also make it illegal for someone to create a digital currency, intended to be used as money, whose value is based on assets held in reserve.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·bloomberg.com·
Crypto Lobby Fights to Contain Backlash From Facebook’s Libra
Facebook’s Libra cryptocurrency is part of a disturbing financial trend
Facebook’s Libra cryptocurrency is part of a disturbing financial trend
"Louis Brandeis said of the early-20th-century trusts that “both the financial concentration and the combinations which they have served were, in the main, against the public interest.” Big banks and big tech may rely on fancy algorithms and apps instead of railroads, but his words are just as true today."
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·washingtonpost.com·
Facebook’s Libra cryptocurrency is part of a disturbing financial trend
In search for stability in crypto-assets: are stablecoins the solution?
In search for stability in crypto-assets: are stablecoins the solution?

Stablecoins Vulnerable to Regulatory Uncertainty: European Central Bank "Less innovative stablecoins could provide a solution to users Seeking a stable store of value, especially if legitimised by the adherence to standards that are typical of payment services, the jury is still out on the potential future role of more innovative stablecoins outside their core user base."

#Fintech#CryptoAssets#AltCoins#Stablecoins#DFC
·ecb.europa.eu·
In search for stability in crypto-assets: are stablecoins the solution?
Libra: A dramatic call to regulatory action
Libra: A dramatic call to regulatory action
Facebook’s proposed creation of Libra is a wake-up call. It makes inescapable the need for rapid, international coordination of financial regulation. Without mechanisms to ensure consistent application of coherent global rules, we may find ourselves in a world of “low-quality finance havens” that exist to evade financial regulations—not unlike the “tax havens” that already exist merely to evade taxes.
#Stablecoins#Facebook#AltCoins#CryptoAssets#Fintech#Libra#DFC
·voxeu.org·
Libra: A dramatic call to regulatory action
Chinese Central Bank ‘Crypto’ Not Launching in November: State Media
Chinese Central Bank ‘Crypto’ Not Launching in November: State Media
The Global Times claims that China’s central bank has refuted recent reports of its plans to launch a state-backed cryptocurrency this November. The Global Times is China's national English language tabloid, under the People’s Daily — the official newspaper of the Communist Party of China (CPC).
#AltCoins#Fintech#CryptoAssets#CBDC#DFC
·cointelegraph.com·
Chinese Central Bank ‘Crypto’ Not Launching in November: State Media
Monetary Stabilization in Cryptocurrencies - Design Approaches and Open Questions
Monetary Stabilization in Cryptocurrencies - Design Approaches and Open Questions
Based on a survey of 24 specific stablecoin projects, we go beyond individual coins for extracting general concepts and approaches. We combine our findings with learnings from classical monetary policy, resulting in a comprehensive taxonomy of cryptocurrency stabilization.
#Fintech#Stablecoins#CryptoAssets#AltCoins#DFC
·arxiv.org·
Monetary Stabilization in Cryptocurrencies - Design Approaches and Open Questions
Libra Cryptocurrency: Can Facebook Dominate in Money Transfers?
Libra Cryptocurrency: Can Facebook Dominate in Money Transfers?
Karl Schamotta, chief market strategist at Cambridge Global Payments, said even though Facebook’s Libra would be a unified currency, “each country in the world has idiosyncratic regulatory regimes, fragmented banking standards, and a whole lot of things that throw sand in the gears that prevents the smooth transfer of money.”
#AltCoins#CryptoAssets#Facebook#Fintech#CrossBorder#Stablecoins#Libra#DFC
·bloomberg.com·
Libra Cryptocurrency: Can Facebook Dominate in Money Transfers?
Libra Association members refuse to public support Facebook's cryptocurrency plan
Libra Association members refuse to public support Facebook's cryptocurrency plan
Most of Libra's founding members are refusing to publicly support it. Mastercard, Uber, and PayPal are ignoring inquiries as to whether they are still committed to Libra. Only two of them agreed to answer questions from Business Insider about their support.
#Fintech#CryptoAssets#AltCoins#Stablecoins#Facebook#Libra#DFC
·businessinsider.com·
Libra Association members refuse to public support Facebook's cryptocurrency plan
Bridging the divide
Bridging the divide
"The financial institutions that have invested in Fnality know liquidity management and settlement processes must take a quantum leap to rein in the current inefficiencies, market fragmentation and counterparty risks. These banks accept the need for change and are exploring the potential of technology, by holding tokenised assets on a blockchain to trade and settle with near-instant finality. "
#Fintech#CryptoAssets#AltCoins#Stablecoins#USC#DFC
·fnality.org·
Bridging the divide
Republic of Mauritius- MauCAS to pave the way for new electronic payment options, says PM
Republic of Mauritius- MauCAS to pave the way for new electronic payment options, says PM
Mr Jugnauth reiterated his vision of a cashless society to better secure financial transactions in Mauritius. MauCAS will be a real boost to e-commerce with its 24/7 payment system, he pointed out. The Prime Minister also announced the upcoming introduction of a "Central Bank Digital Currency".
#AltCoins#PaymentSystems#Fintech#CryptoAssets#CBDC#DFC
·govmu.org·
Republic of Mauritius- MauCAS to pave the way for new electronic payment options, says PM