At a hearing this week, a congressman suggested that Facebook’s proposed Libra stablecoin should be classified as a security that should be regulated. Such a designation threatens the future of the social media giant’s foray into cryptocurrencies.
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Not even a few hours after it was announced and there's already stock photos of Facebook's libra cryptocurrency (via Shutterstock).From Europe and America, Facebook’s Libra cryptocurrency faces suspicion
The social media giant will also have a high regulatory hurdle to jump before launching the digital asset
Less than 12 hours after it was announced, Facebook’s new libra cryptocurrency was already causing the kind of concern in European financial circles that even Bitcoin has not been able to generate.
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Facebook’s Libra seeks to MySpace Bitcoin
The social media giant’s new stablecoin will harness its 2.7 billion users to bring the new cryptocurrency mainstream
Facebook wants to do to Bitcoin—and maybe even the dollar, euro, and yen—what it did to MySpace and Friendster by launching a new cryptocurrency called libra, announced on Tuesday after months of anticipation and speculation.
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As Facebook moves aggressively into crypto, challenges await
The social media giant is getting serious about its stablecoin, says CFTC Chair Giancarlo
Facebook has begun talking to U.S. regulators about getting approval for its forthcoming stablecoin cryptocurrency, said to be referred to as “GlobalCoin” at Facebook.
