It’s been a pretty intense month for the Libra Association, whose stablecoin has come under intense scrutiny from the U.S. Congress and the G7 over fears of destabilizing the global financial system when it launches next year.
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Think your Thanksgiving family dinners are awkward? This is a "family photo" taken at the G20 summit earlier this year in Japan (via G20.org).With stablecoin ban, G20 deals Facebook’s Libra ambitions another blow
Unanimous decision effectively halts the social media giant’s goal of creating an international digital currency by 2020
The G20 dealt Facebook’s Libra cryptocurrency ambitions another blow on October 18, agreeing to a ban stablecoins until global regulations are in place.
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Despite being called ‘global threat’, Libra Association launches
A signing ceremony by the cryptocurrency’s members was overshadowed by dropouts and a report calling stablecoins a threat to the global economy
Facebook’s wounded Libra Association formally voted itself into existence on October 14, electing a board and choosing officers. The ceremony was overshadowed by the loss of seven original members including Mastercard and Visa.
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Facebook remains defiant in wake of Libra defections
The loss of Mastercard, Visa, Stripe, eBay, and Mercado Pago has hurt the stablecoin project, but the social media giant promised to move ahead
Facebook’s plan to create a blockchain-based stablecoin called Libra took a body blow on October 11, when five main partners including Mastercard and Visa withdrew.
