“It is clear to me that Germany and Europe cannot and will not accept its entry into the market while the regulatory risks are not adequately addressed," Scholz said. “We must do everything possible to make sure the currency monopoly remains in the hands of states.”
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Libra Association CEO Stuart Levey's first big act as CEO is to... rebrand as the Diem Association (Photo: Diem Association)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.
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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.
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Bison Trails offers tools for the Libra blockchain
The blockchain infrastructure firm notes that customers using its Libra QT ‘can easily transition to mainnet at launch, and be ready on day one’
Bison Trails said its Libra QT product allows developers to read and write on the blockchain hosting the Facebook-founded Libra stablecoin.
