Libra - updates

Rappler's latest stories on Libra

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Facebook's Zuckerberg open to scaling back Libra plan

Oct 24, 2019 - 12:36 AM

(UPDATED) The Facebook CEO says it's willing to scale back plans for its digital coin Libra if it cannot win regulatory approval as a new currency for global exchanges

ZUCKERBERG. Facebook Chairman and CEO Mark Zuckerberg testifies before the House Financial Services Committee on "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors" in the Rayburn House Office Building in Washington, DC on October 23, 2019. Photo by Nicholas Kamm/AFP


Facebook's Marcus says Libra won't be controlled by a single company

Oct 21, 2019 - 10:14 AM

Facebook executive David Marcus seeks to address the main issue raised by France's Economy Minister Bruno Le Maire: the potential for a company to have the power to undermine a government's control of its currency

DAVID MARCUS. David Marcus, Head of Calibra at Facebook, testifies about Facebook's proposed digital currency called Libra, during a Senate Banking, House and Urban Affairs Committee hearing on Capitol Hill in Washington, DC, July 16, 2019. Photo by Saul Loeb/AFP

'Legal basis' an 'absolute prerequisite' for digital monies like Libra – G7

Oct 18, 2019 - 10:26 AM

'Ambiguous rights and obligations could make the stablecoin arrangement vulnerable to loss of confidence – an unacceptable risk, especially in a payment system of potentially global importance,' the G7 report says

LIBRA. Silhouettes are seen beneath a sign of Libra, the cryptocurrency project launched by Facebook during a conference at marketing and communication school CREA in Geneva on September 26, 2019. Photo by Fabrice Coffrini/AFP


Group behind Facebook's Libra coin announces 21 founding members

Oct 15, 2019 - 1:24 PM

Libra initially hopes the number of companies backing it would increase from an initial 28 to 'well over 100.' Instead, the list has shrunk following criticism from regulators.

More companies back away from Facebook's Libra coin

Oct 13, 2019 - 6:12 PM

Visa, Mastercard, eBay, Stripe each change their minds about being founding members of the Libra Association assembled to promote the digital currency

Zuckerberg to testify in U.S. Congress on Facebook digital currency plan

Oct 10, 2019 - 6:19 PM

The Facebook chief will be the sole witness at the October 23 hearing on 'An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors'

ZUCKERBERG. In this file photo taken on September 19, 2019 Facebook CEO Mark Zuckerberg walks to meetings for technology regulations and social media issues on Capitol Hill, in Washington, DC. Photo by Brendan Smialowski/AFP


PayPal abandons Facebook-backed Libra cryptocurrency group

Oct 05, 2019 - 1:23 PM

'We remain supportive of Libra's aspirations and look forward to continued dialogue on ways to work together in the future,' PayPal says

PAYPAL. The logo of online payment company PayPal is pictured during LeWeb 2013 event in Saint-Denis near Paris on December 10, 2013. AFP File photo by Eric Piermont/AFP

PayPal close to quitting Facebook's Libra project – Financial Times

Oct 04, 2019 - 8:52 PM

Paypal is said to be the only backer among 28 who did not show for a meeting in Washington focused on tackling widespread opposition to Libra from regulators worldwide

Facebook-backed Libra group pledges to 'reassure' regulators

Sep 27, 2019 - 12:32 PM

Governments and officials have raised concerns over how the currency would be regulated, specifically on matters concerning laundering and terrorism financing

Silhouettes are seen beneath a sign of Libra, the cryptocurrency project launched by Facebook during a conference at marketing and communication school CREA in Geneva on September 26, 2019. Photo by Fabrice Coffrini/AFP


France will block development of Facebook Libra cryptocurrency

Sep 12, 2019 - 8:14 PM

France wants to block the development of Libra because it says it threatens the 'monetary sovereignty' of governments


Facebook's Libra currency could undermine European Central Bank – official

Sep 02, 2019 - 8:59 PM

Yves Mersch, a board member at the Frankfurt institution, hopes Europeans don't leave traditional payment solutions for the 'beguiling but treacherous promises of Facebook's siren call'


Privacy watchdogs warn Facebook over Libra currency

Aug 06, 2019 - 12:27 PM

The letter from multiple countries' watchdog agencies asks Facebook to respond to concerns over how it will handle sensitive personal information of Libra users

Swiss privacy watchdog seeks details on Facebook Libra cryptocurrency

Jul 24, 2019 - 3:50 PM

Switzerland's financial watchdog FINMA plans to conduct oversight of the Geneva-based Libra Association


Libra: What consumers need to know about Facebook’s new cryptocurrency

Jul 20, 2019 - 8:00 AM

One concern is that Libra may herald a shift away from traditional government taxes and banking fees to a new international monetary system controlled by corporate entities like Facebook and Uber

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Facebook's Libra prospects dim, but cryptocurrencies roll on

Jul 18, 2019 - 12:06 PM

The US government wants the dollar to be the global reserve currency, and will oppose any 'threat to that,' says one analyst


U.S. senators warn of 'trust' gap over Facebook digital currency

Jul 17, 2019 - 9:40 AM

Several senators question whether Facebook can be trusted after a series of missteps on privacy and data protection

Facebook's Libra currency under fire

Jul 15, 2019 - 5:49 AM

Libra, which is widely regarded as a challenger to dominant global player Bitcoin, is expected to launch in the first half of 2020


Trump says cryptocurrency is 'not money'

Jul 12, 2019 - 2:29 PM

'I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,' Trump tweets

U.S. Fed to look 'carefully' at Facebook virtual coin Libra

Jun 26, 2019 - 1:15 PM

Federal Reserve chairman Jerome Powell becomes the latest official to voice concern over the global virtual currency unveiled last week by Facebook


Swiss watchdog 'in contact' with Facebook cryptocurrency backers

Jun 20, 2019 - 7:07 PM

Given Facebook's international reach, global regulators are unlikely to leave supervision of the Libra cryptocurrency entirely to the Swiss

With 'Libra,' Facebook takes on the world of cryptocurrency

Jun 18, 2019 - 5:22 PM

Libra, described as 'a new global currency' set to roll out next year, is being backed by about 25 partners, including nonprofits and firms in financial services and online commerce

The flow in our stars: Yoga for the Libra season

Oct 13, 2018 - 10:30 AM

Libra’s fundamental focus is on partnerships and relationships