PayPal CEO Dan Schulman Rolls Over to the Pro-Crypto Side

PayPal CEO Dan Schulman Rolls Over to the Pro-Crypto Side

Widespread jubilation hit the global crypto community as yet another tech boss swims over to the pro-Bitcoin side. This time it’s PayPal CEO, Dan Schulman. Quoting his very words, Schulman stated, “Yes. Bitcoin” when asked if he holds any digital currency. These two magical words are more than a simple answer. Coming from Schulman, this answer is more like an endorsement and a reassurance that Bitcoin(BTC)trade still holds the spot of the world’s most celebrated…

Read More

Social Trading Platform eToro: Facebook Needs to Leave Stablecoins to Third Parties

Social Trading Platform eToro: Facebook Needs to Leave Stablecoins to Third Parties

eToro, the crypto-oriented social trading and brokerage provider, recently published a position paper that stated that in order to get a cryptocurrency project launched, Facebook should focus on stablecoins that are distributed by regulated third parties instead of the company’s own digital currency. Facebook’s cryptocurrency project, Libra, has faced many obstacles since the announcement of its launch in June this year. Politicians and regulators across the United States, the United Kingdom and Europe have expressed…

Read More

US Congress Introduces Bill Classifying Facebook’s Libra a Security

US Congress Introduces Bill Classifying Facebook’s Libra a Security

On Thursday, US congress has introduced a bill that would classify Facebook’s cryptocurrency Libra as a security. The new proposed law is likely to bring up larger issues of regulation and inspection to Facebook’s crypto project that the company introduced as an electronic payment system. Representatives Sylvia Garcia and Lance Gooden (Democrat and Republican from Texas) proposed the bipartisan bill titled ‘Managed Stablecoins and Securities Act of 2019’ during the same day of a committee…

Read More

Ex-Federal Reserve Chairman Greenspan: ‘No Point’ Issuing Central Bank Digital Currency

Ex-Federal Reserve Chairman Greenspan: ‘No Point’ Issuing Central Bank Digital Currency

The former Federal Reserve chairman Alan Greenspan said at a conference that it is pointless for central banks to issue their own digital currencies. Presenting his views, Greenspan said that national (fiat) currencies are backed up by sovereign credit and therefore are far superior to digital assets proposed by tech giants like Facebook. “There’s no point for them to do it,” Alan Greenspan affirmed a financial conference in China. Describing the importance and potential of…

Read More

Facebook’s Head of Libra Crypto Project Is Optimistic about Bitcoin’s Future

Facebook’s Head of Libra Crypto Project Is Optimistic about Bitcoin’s Future

Since Facebook’s announcement about the development of its own cryptocurrency called Libra in June, the cryptocurrency industry has struggled with many obstacles regarding its launch next year. Consumers are hesitant about the social media giant taking over a financial venture, claiming that tech companies should be utilizing the given cryptocurrencies in the crypto market like Bitcoin(BTC)trade instead of creating their own centralized substitute. Some social media companies like Twitter are already doing this. David Marcus,…

Read More

Draft Document Reveals Intention to Develop Cryptocurrency by European Central Bank

Draft Document Reveals Intention to Develop Cryptocurrency by European Central Bank

Facebook’s announcement in June to launch its own cryptocurrency, Libra, met a lot of obstacles as countries including France and Germany claimed that the use of Facebook’s digital currency in their territories could be a potential risk for their financial sector. In accordance with that assessment, recently a European Union draft document obtained by Reuters stated that the European Central Bank (ECB) should research and consider the development of a public digital currency as Facebook’s…

Read More

France Leads Anti-Libra Coalition to Block Facebook’s Cryptocurrency in Europe

France Leads Anti-Libra Coalition to Block Facebook’s Cryptocurrency in Europe

France is leading a coalition of the top five economies of Europe that aims to make the launch of Facebook crypto project Libra in the region unsuccessful. Government representatives from France, Germany, Italy, Spain and the Netherlands have been gathering in backroom meetings to discuss the prospect of blocking Facebook’s launch of Libra in European markets. When asked to comment, spokeswoman of the French Finance Minister, Bruno Le Maire, referred to the minister’s earlier comments…

Read More

Think Tank Opinion: Facebook’s Libra Could Pave the Way for New Global Digital Currency

Think Tank Opinion: Facebook’s Libra Could Pave the Way for New Global Digital Currency

The president of the European think tank, the Centre for Economic Policy Research (CEPR), told CNBC that although Facebook’s forthcoming digital currency Libra has not been approved yet, it could spark the creation of another global virtual currency. Since it was announced, Libra has faced a lot of criticism from multiple financial establishments and countries over security, privacy and other concerns such as money laundering and the financing of terrorism. Facebook proposed plans for the…

Read More

Dorsey Has Spoken: Twitter CEO Declares “Hell No” on Joining Libra Association

Dorsey Has Spoken: Twitter CEO Declares “Hell No” on Joining Libra Association

When asked if he ever considers joining the Libra Association, Jack Dorsey, the chief executive officer of Twitter gave a resounding “hell no.” Facebook Libra has raised a ton of dust since its announcement, and somehow it keeps finding its way into major headlines across the globe. The highly criticized virtual coin is now being disassociated from Facebook (maybe a bid to save it from the standing credibility troubles of Facebook). During the last congressional…

Read More

China’s Tech Giant Tencent: Facebook Libra Threatens Digital Payment Systems Too

China’s Tech Giant Tencent: Facebook Libra Threatens Digital Payment Systems Too

The renowned Chinese internet-based technology conglomerate, Tencent Holding, joined the queue earlier in the week when it released its blockchain whitepaper for 2019 that suggests Facebook’s cryptocurrency Libra poses as much threat to the current digital payment systems as much as it does to the traditional financial world. Before now, Facebook’s forthcoming crypto coin Libra was grossly criticized for poor regulation and governance as well as its supposed pull on the traditional financial world. There…

Read More
1 2 3 10