• Libra renamed Diem Association
    Cryptocurrencies,  Regulation

    Libra Association dumps ‘Libra’ for Diem

    The rebranded Diem Association will still pursue the launch of a global stablecoin, but in slower baby steps as regulatory hostility continues to grow

    First Facebook tried to distance its toxic name from the Libra stablecoin project it launched and championed by renaming its Calibra wallet Novi in May. Now the Libra Association is following suit, renaming itself the Diem Association in hopes of starting a “new day” for the much-opposed project.

  • libra stablecoin launch January
    Uncategorized

    Facebook’s Libra stablecoin could launch in January

    The Libra Association expects to launch a dollar-backed stablecoin early next year—but is it just limping in the direction of the finish line?

    According to a Nov. 27 Financial Times report, Libra will launch in January with just a single dollar-backed stablecoin. The exact launch date depends on when the association receives the Swiss Financial Market Supervisory Authority’s approval to operate as a payments service, which could come in January after the May 2020 application.

  • Lagarde digital euro Libra
    Cryptocurrencies,  Politics

    ECB President: Digital euro won’t replace cash, might make room for Libra

    European Central Bank President Christine Lagarde may have left the door open for the Facebook-founded stablecoin, saying that a digital euro could compete with private digital currencies

    In the biggest hint yet that the ECB is open to the idea of welcoming a project like Libra—subject to regulatory compliance, of course—Lagarde said a digital euro “could provide an alternative to private digital currencies and ensure that sovereign money remains at the core of European payment systems.

  • Europe clamps down on Libra
    Politics,  Regulation

    EU leaders to Libra: Follow tough rules or face ban

    In new proposals, some of Europe’s biggest economies want Facebook’s stablecoin project to be based in the EU and not in Switzerland… or else

    Five of Europe’s biggest economies are urging the European Commission to enforce strict regulations for stablecoins—in the surest sign yet that Facebook’s embattled Libra project isn’t out of the woods despite drastic changes.