Facebook’s Libra cryptocurrency is getting a revamp to win regulatory approval
) planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval.
The original plan was for Libra, which was unveiled last June, to be backed by a wide mixture of currencies and government debt. But central banks and regulators feared it could destabilise monetary policy, facilitate money laundering and erode users’ privacy, with some threatening to block it. FINMA on Thursday acknowledged receipt of Libra’s application for a payments system licence, saying the outcome and duration of the process remained open.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explainer: 'Stablecoins' in the spotlight as Facebook unveils Libra cryptocurrency‘Stablecoins’ might be the answer to the issues plaguing Bitcoin
Read more »
Explainer: 'Stablecoins' in the spotlight as Facebook unveils Libra cryptocurrency‘Stablecoins’ might be the answer to the issues plaguing Bitcoin
Read more »
Facebook will start steering users who interact with coronavirus misinformation to WHOThe move by Facebook is just the most recent step in an aggressive and coordinated response by it and other tech companies to promote facts and guidance from reputable sources.
Read more »
25 FEMA workers test positive for COVID-19More than two dozen FEMA employees, including at least one who worked in the agency's main response center, have tested positive for coronavirus, sources tell NBCNews.
Read more »
It's 2020, And Britney Spears Just Had The Cutest Interaction With Justin TimberlakeSee what Justin said about Britney’s *very* unexpected dance video 👀👀
Read more »
Americans Are Skeptical Of The Government — Except When There’s A CrisisWhen Americans feel anxious about threats like infectious disease, they are more likely to trust government officials and support policies they think may protect them—but that does not mean views of the government will improve over the long term.
Read more »