• 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.

  • Cryptocurrencies,  Regulation,  Technology

    Italy PM: Digital payments a solution to ‘shadow economy’

    Prime Minister Giuseppe Conte believes that digital payments can decrease tax evasion, and banks call digital assets revolutionary—but Italians are unconvinced

    Local finance news outlet Il Sole24Ore reported on Sept. 8 that Conte believes that digital payments would result in the financial system being “faster, more transparent and traceable which in perspective means creating for recovering the shadow economy.” He explained that all this could result in lower taxes for all of Italy:

  • Ex-Reserve Bank of India governor Libra
    Bitcoin,  Libra,  Politics,  Regulation

    Ex-Reserve Bank of India governor: Bitcoin, Libra and central bank digital currencies can co-exist

    Raghuram Rajan, the former RBI governor, says competition between private and public initiatives is crucial to prevent one asset becoming too powerful

    A former governor of the Reserve Bank of India has said that he believes private digital currencies such as Facebook’s Libra should be allowed to compete with central bank digital currencies—and warned it would be “problematic” if any single asset establishes a monopoly.

  • U.S. is researching digital dollar
    Cryptocurrencies,  Politics,  Regulation,  Technology

    Fed Governor says U.S. is researching a digital dollar

    The Federal Reserve may be well behind China, but news that it is actively looking at a central bank digital currency is a big step forward

    Federal Reserve Governor Lael Brainard said Thursday a U.S. central bank digital currency won’t happen overnight. A significant policy process which the Fed has not committed to would be required to consider the issuance of a CBDC, along with extensive deliberations and engagement with other parts of the federal government and a broad set of other stakeholders.