Financial leaders of the world’s seven biggest economies on Tuesday vowed to fight rising ransomware attacks amid the COVID-19 pandemic, and said no stablecoin operation should start until it is properly regulated. In a joint statement, the finance officials of …
Facebook’s 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 prospect of Facebook’s 2.5 billion users adopting Libra has led to intense scrutiny …
Google, Alibaba and other “Big Tech” companies could be forced to share data on financial services customers with banks and financial technology firms to prevent unfair competition. As Facebook’s plan for its Libra “stablecoin” faces scrutiny, a global body of …
Facebook faces a rough road ahead with Libra, but defections by high-profile partners are still unlikely to spell the end for the digital currency. On Friday, Visa and MasterCard announced their departures from the Libra project, as did e-commerce giant …
Euro zone governments and central banks are working on a long-term plan to launch a public digital currency that they hope would make redundant projects like Facebook’s Libra, which is seen as a risk to financial stability, officials said on …
A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation …
Facebook Inc.’s foray into digital currencies risks reversing gains in privacy and user sovereignty won by computer-networking pioneers, according to one of the co-founders of Ethereum, the blockchain of choice for most business and finance projects. Facebook has received pushback …
Facebook Inc. was hours away from the formal announcement of its ambitious foray into financial services, but French Finance Minister Bruno Le Maire was already broadcasting his discontent. “It’s out of the question” that the social-media giant’s digital money compete …
Facebook Inc. announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, …
