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Australian’s Bank Regulator APRA Considers Overseeing Facebook’s Calibra

The Australian Prudential Regulation Authority (APRA) has reportedly submitted a framework to oversee digital wallets holding large amounts of value. If approved, it would also include Facebook’s controversial stablecoin, Libra, and its digital wallet – Calibra. APRA To Oversee Calibra? Upon its announcement, Facebook’s Libra quickly attracted the attention of watchdogs. The social media mogul...
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What’s Going to Happen with Bitcoin in India in 2020?

Last year was pretty dismal for the bitcoin and crypto industry in India. Regulatory procrastination and a negative outlook from politicians have stifled the ecosystem and innovation, will 2020 be any better? BITCOIN BATTLING IN INDIA The Reserve Bank of India (RBI) has been relentless with its disapproval towards bitcoin and the crypto industry over...
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After Swiss, German President Enforces Regulations On Libra

The calendar turned a new leaf, yet Facebook proposed Libra cryptocurrency is not out of the scrutiny. Libra continues to receive negative responses, this time from German Central Bank’s President Jens Weidmann. The Bundesbank President “wants to slow down the Facebook proposed crypto through regulations” claims a local report. As per the report, Weidmann believes...
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Germany’s Central Bank Chief Wants To Tune Down on Libra and Digital Euro

The slightly negative attention from institutions towards Facebook’s Libra continues with the German Central Bank’s President Jens Weidmann, saying that they have to slow it down with further regulations. He also notes that banks must improve their payment systems and the E.U. should be more considerate regarding launching e-euro. Weidmann On Digital Euro Ever since...
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“Libra, In This Form, Has Failed, Needs Rework” Swiss President

Swiss president has strong views of the Facebook developed cryptocurrency, Libra. Ueli Maurer, Switzerland’s finance minister, and outgoing president commented on the Libra calling it as a Failed Project. According to him, “I don’t think (It has a chance in its current form), because central banks will not accept the basket of currencies underpinning it.”...
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France’s Social Media Stalking Points to the Violence of Fiat, Consent of Crypto

France will soon be monitoring social media accounts to catch suspected tax evaders. The endeavor could label anyone as suspicious who so much as posts a “taxation is theft” meme or a poses with a nice car. The country’s budget minister, Gérald Darmanin, called the court-approved experiment ‘one more tool to fight fraud.’ Exemplified by...
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Libra Prepares New 2.0 Roadmap for 2020 Launch

Despite regulatory uncertainty, the developers of Facebook’s Libra project continue forward. Recently, the Libra team released its second Roadmap, with points preparing for mainnet launch. Facebook’s Libra, which still has no hard and fast dates for an actual launch, continues to build up its community. A recent blog post by its developers suggest the project...
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Fed Governor: Global Stablecoins Like Facebook Libra May Endanger Consumers

One of America’s top central bankers has joined a growing regulatory chorus of concerns over the prospects of large stablecoin projects like the Facebook Libra running roughshod throughout the world without adequate accountability. That banker is Lael Brainard, a member of the Board of Governors of the U.S. Federal Reserve, who voiced those concerns during...
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Facebook Employee Exposes Financial Details of 29,000 Colleagues

Facebook tends to make a lot of headlines for the wrong reasons. This time is no different, as a data theft event affects roughly 29,000 employees’ data. It would appear that the social media giant has a data breach on its hand with quite a big impact. Another PR Nightmare for Facebook The personal financial...
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Stablecoins Could Be Crypto’s True Killer App

During the crypto hype bubble and Bitcoin’s meteoric rise, speculation ran wild due to the incredible potential the emerging technology could bring to the world, if only the technology could find its “killer app” – something that makes the technology a must-have addition to daily life.The post appeared first on NewsBTC
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Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’

At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins. Also read: Regulatory Roundup –...
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Nobel Winner-Backed Saga Launches Libra-Like Global Coin

London-based blockchain firm Saga announced the launch of its Saga token (SGA). The digital unit represents a global currency that complies with regulators’ requirements. Saga Advised by Nobel Prize Winner, Former Bank of Israel Governor The currency is backed by a basket of fiat currency to avoid high volatility. Thus, it acts like a stablecoin...
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The New Saga Token Touted to Be Facebook Libra’s Rival

A U.K. based blockchain firm Saga is launching an alternative token to Facebook’s digital currency proposal Libra. Saga’s advisory board includes Nobel Prize-winner Myron Scholes. The firm hopes to build a global currency that complies with all crypto regulations. However, the firm doesn’t plan to launch its token in the U.S. yet. It claims SGA...
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Facebook’s Jerome Pesenti Explains the Limitations of Artificial Intelligence Research

Major developments continue to take place in the artificial intelligence industry. Facebook’s Jerome Pesenti thinks the current model of deep learning is reaching its limits, however.  Dozens of companies are in the process of exploring the potential of artificial intelligence.  The Costs of Artificial Intelligence Research Virtually all of these companies have scientists and engineers...
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Regulatory Roundup: Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency

In this regulatory roundup, we cover the U.S. SEC approving a bitcoin futures fund, the new IRS tax form targeting crypto owners, and several more steps taken by the U.S. government toward crypto regulation. We also cover India’s central bank digital currency plan, South Korea’s crypto taxation plan, and the European Commission’s announcement regarding stablecoins....
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EU Finance Ministers Place Defacto Ban on Libra

Libra’s ongoing organizational snags and run-ins with regulators continue into December, as EU finance ministers agreed Thursday that Libra cannot be launched in the EU until concerns are adequately addressed. The finance ministers issued a joint statement citing regulatory “challenges and risks.” Also Read: Libra Testnet Fails to Impress as New Legislation Looms Lawmakers Still...
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France Hates Facebook’s Libra So Much it’s Developing its Own Digital Currency

Trials for a French wholesale central bank digital currency will kick off next year. France is responding to the threat posed by Facebook’s Libra to monetary policy sovereignty. The EU country is hoping to be the first to issue a wholesale CBDC. Immediately after Facebook announced its plans for a global cryptocurrency, France emerged as...
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Libra method: The Newest Trend For Crypto Trading

Libra method is the newest crypto-currency that has knocked on the door of digital currencies. There are already a lot of cryptocurrencies out there like Altcoin, Litcoin, Ethereum and ripple among others. Now, one of the greatest social media platforms has launched its own digital currency-Libra. It is being considered as another most intelligent way...
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Quicker Than Libra: SAGA To Launch A Stablecoin Pegged To SDR

Libra’s announcement earlier this year brought a lot of mixed reactions, but it also attracted a lot of attention towards the field, causing other teams to think in this direction. One of these is Saga Monetary Technologies’ token dubbed SGA, which will be launched on December 10th. SGA token will be pegged to the Special...
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OneConnect Financial Technology Files for IPO in the U.S.

It has been evident in the last few years that companies within the blockchain, cryptocurrency and fintech space are receiving a lot more institutional backing after years of being rather niche sectors of the business world. This is evidenced by the fact that many more prominent firms are taking on blockchain technology such as MasterCard,...
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Google Partners with Citi Bank Offering Checking Accounts to Rival Big Techs in Banking Dominance

Technological advancements have shaken up every sector of the global economy in recent years. Now, the banking space is under siege from various tech giants. These big tech companies see financial services as a method of getting closer to users and collecting valuable data.  Interestingly, Apple Inc. introduced a credit card this summer in partnership...
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Binance Set to Include 180 Fiat Pairs within the Next Few Months

Premier cryptocurrency exchange Binance is set to include 180 fiat currency supported pairs within six or nine months. In what is seen by many as a “gutsy” move premier cryptocurrency exchange Binance is set to include 180 fiat currency pairs and counting between now and the end of the first quarter of next year. Changpeng...
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Paxos Launches Fiat Gateway with Binance as the First Client

Photo: Shutterstock On November 12, 2019, Paxos debuted its Fiat Gateway and have announced that Binance will be its first client in this regard. Its Fiat Gateway means that customers can swap out U.S. dollars for stablecoins on a one-to-one basis and this is one of the first of its kind within the cryptocurrency industry....
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Despite Libra Hurdles, Facebook Announces Its All-App Payments Service Facebook Pay

The Facebook Pay will be a unified payment service available across all Facebook apps like Messenger, Instagram, and WhatsApp. This service will work independently from Facebook’s Calibra network and wallet. Social media giant Facebook Inc. has now decided to consolidate all of its payment services under a single umbrella. On Tuesday, November 12, Facebook announced...
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Facebook Pay Launched. Will Libra See the Light?

The social media giant, Facebook has launched a payment feature to provide a convenient, secure and consistent payment experience across the Facebook group. It has been termed as Facebook Pay. To begin with, The feature allows Facebook, Whatsapp and Instagram users to facilitate payments worldwide. Here’s the official announcement at newsroom.fb.com. “The service will be...
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Anonymity in China’s Crypto Yuan is Bad News for US Lawmakers

While the US drags its regulatory feet and gets bamboozled by bureaucracy, China forges ahead and could launch its own digital currency within a few months. Crypto Yuan Nearing According to a central bank official, China’s planned crypto yuan is not all about spying on its citizens. The world’s financial regulators are all casting eyes...
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Libra Crypto Crumbles as Facebook Launches Alternative Payments Platform

Most of the angst against the crypto industry this year has been instigated by one company. The major economies of the world have collectively given the bird to Facebook and its plans on crypto domination through its own centralized digital coin. The social media giant is now scrambling to launch an alternative payments platform.Facebook Pay,...
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Doesn’t Wait For Libra: Facebook Introduces Facebook Pay

Facebook has faced a maelstrom of criticism ever since it announced the Libra cryptocurrency. Lawmakers and bankers have been quite vocal in their negative views towards the developing stablecoin. However, it seems that Facebook is not waiting for Libra to launch a global payment platform as they have now introduced Facebook Pay. Cross-Platform Payments Facebook...
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Amazon Is Launching New Grocery Store Brand Next Year

Amazon has promised to make a new grocery store totally different from Whole Foods and Amazon Go stores.  E-commerce retailing giant Amazon is planning to expand its reach in the food industry and open a new brand of grocery store. As CNET has reported, a new grocery store will be opened in Woodland Hills, California,...
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Apple Plans a Product Shift by Launching Its AR Headset in 2022 and AR Glasses in 2023

Apple is currently building up its resources to launch its augmented-reality headset in 2022 and AR glasses by 2023. After dominating its smartphone industry with its iPhone for a decade, tech giant Apple is exploring a new product line for the next phase of the technological revolution. Over the last decade, Apple scaled tremendous heights...
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