• 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.

  • Gazprom bank gets FINMA license
    Cryptocurrencies,  Regulation

    Banking arm of Russia’s Gazprom approved to offer crypto services in Switzerland

    The state-owned energy firm’s Gazprombank plans to offer institutional-grade crypto asset custody solutions as well as facilitate the exchange of top cryptocurrency Bitcoin

    The bank’s CEO, Roman Abdulin, said that the firm has high hopes for the adoption of crypto assets. Saying Gazprombank is “committed to continuous financial innovation” he added that it strives to “offer our clients advanced banking services. ”

  • Libra hires Robert Werner
    Alt coins,  People

    Libra Association hires another exec with financial enforcement experience

    Robert Werner, a former director of the Financial Crimes Enforcement Network, will become the stablecoin governing body’s general counsel

    Robert Werner "brings a wealth of regulatory, financial crime compliance and enforcement experience from his work in both the public and private sectors,” the Libra Association said on May 19.

  • Levey to lead Libra
    Cryptocurrencies,  People,  Politics

    Stuart Levey to lead Libra Association, comfort critics

    A top HSBC executive and Treasury Department official in charge of financial crimes and sanctions, a big part of the new CEO’s role is to reassure central bankers, regulators, and elected officials

    By hiring Stuart Levey the Facebook-founded Libra Association is announcing that compliance—with central bankers, financial regulators, tax authorities, and criminal and intelligence investigators—will be a prime driver as it moves forward.