• FATF stablecoin report
    Regulation

    FATF calls for clampdown on ‘so-called stablecoins’ in new report

    The Financial Action Task Force warns stablecoins have a ‘propensity for mass adoption makes them more vulnerable to be used by criminals and terrorists’

    When a powerful international financial oversight body releases a report on “so-called stablecoins,” you just know it isn’t going to be comfortable reading.

  • (via Pixabay.)
    United States

    Finance professionals predict US first to global digital currency

    China’s digital yuan has a big lead, and a central bank representative called the creation of the first global stablecoin ‘a horse race.’

    China has spent five years preparing to launch the digital yuan, which might happen in a matter of months. But bankers and financial industry professionals surveyed at an industry conference in October still believe the United States will be the first to create a global digital currency.

  • 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).
    Libra,  Regulation

    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.

  • Facebook's chief seems to be losing, for once. (Anthony Quintano via Wikimedia Commons)
    Libra

    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.