Flights of rhetoric surrounding Facebook’s Libra stablecoin and other digital currencies has reached impressive heights at times. But former U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo took it beyond the stratosphere in an October 15 editorial, comparing the launch of an American central bank-backed digital currency to the Apollo 11 mission.
In the wake of a lawsuit by the U.S. Securities and Exchange Commission, messaging service Telegram told backers that it would likely postpone the public launch of its Gram token.
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.
Securities and Exchange Commission Chairman Jay Clayton again threw cold water on the idea of listing Bitcoin on an exchange traded fund (ETF) anytime soon.