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Shopify, the Canada-based e-commerce giant, said Friday that it is joining the Libra Association.

Mastercard CEO Ajay Banga has revealed reasons why the payments giant quit the Facebook-led Libra stablecoin project.

British telecommunications company Vodafone has dropped out of the Libra Association, according to a report from CoinDesk. The firm’s move follows similar decisions by PayPal, Mastercard, Visa, among others, to withdraw from Facebook’s stablecoin project. A Vodafone spokesperson said that the company has decided to focus on developing its own products to bring affordable financial […]

The Australian Prudential Regulation Authority (APRA), one of the country’s top financial regulators, has said that it could “potentially” regulate the Facebook-led Libra stablecoin project. In an official submission to a Senate inquiry on fintech, published Monday, APRA said it has proposed a new regulatory framework that would allow it to oversee wallets that are […]

A majority of respondents to The Block's 2020 Outlook Survey believe Libra, the cryptocurrency project begun by Facebook, won't launch this year.

The Libra Association has set up a 5-member “Technical Steering Committee” to oversee the development of the stablecoin project. The five members are – Anchorage co-founder Diogo Monica, Calibra core product lead George Cabrera III, Bison Trails founder and CEO Joe Lallouz, Union Square Ventures partner Nick Grossman and Mercy Corps emerging technology director Ric […]

Facebook’s blockchain subsidiary, Calibra, is hiring two marketing veterans to help reach “billions of people” for its upcoming stablecoin Libra. According to job postings on its website, Facebook is hiring a head of brand and a head of media, digital marketing and community for Calibra. Both positions require ideal candidates to have at least 15 […]

Facebook’s Libra stablecoin has failed in its current form, according to Swiss president Ueli Maurer. In an interview with Swiss broadcaster SRF, Maurer stated that Libra does not have a chance of being successful “because the basket of currencies that is deposited in this currency is not accepted by the national [central] banks.” “The project […]

U.S. Federal Reserve Governor Lael Brainard said on Wednesday that Facebook’s proposed cryptocurrency Libra must overcome “a core set of legal and regulatory challenges” before it can be launched as a global stablecoin.  According to Brainard’s draft remarks for a Frankfurt conference, stablecoins issued on a smaller scale –including Gemini and Paxos, among others – […]

Facebook’s Libra, along with many other stablecoins, could be classified as securities and subject to increased regulatory scrutiny if a group of lawmakers get their way. Two members of the House Financial Services Committee, U.S. Reps. Sylvia Garcia (D-Texas) and Lance Gooden (R-Texas), on Thursday introduced new legislation called the “Managed Stablecoins are Securities Act […]

The U.S. Federal Reserve, the country’s central bank, has said that stablecoin projects such as Facebook-led Libra could become a “new medium of exchange” if properly designed and regulated. Libra like global stablecoin initiatives “have the potential to rapidly achieve widespread adoption,” said the central bank in its latest Financial Stability Report published Friday. However, […]

The Libra Association released on Friday a developer update, saying that Facebook’s cryptocurrency project has been running for “five months and growing strong.”   In a blog post, Libra Association developer Michael Engle said that the Libra testnet has registered more than 51,000 transactions since it was reset in September. Developers have also developed 34 projects […]

Patrick Collison, co-founder and CEO of payment processing firm Stripe, is not sure if cryptocurrencies have a future. “I’m very skeptical of anyone who’s adamant that crypto’s gonna work,” Collison said at the WIRED25 conference in San Francisco on Friday. Cryptocurrency is currently not part of Stripe’s business model, but Collison said companies should try […]

The International Organization of Securities Commissions (IOSCO), a global securities watchdog, has said that stablecoin proposals and initiatives, such as the Facebook-led Libra project, could come under some existing securities market regulations. In a statement published Monday, Spain-headquartered IOSCO said that given the potential benefits and risks of stablecoins, a case-by-case approach is needed to […]