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‘Cash is still king;’ crypto will need to be proven ‘useful,’ says ING

Dutch banking group ING has said that “cash is still king,” and that for cryptocurrencies to catch on, it will need to be proven “useful, relevant and trustworthy.” “If cryptocurrencies are to become mainstream, technical improvements are needed,” said Teunis Brosens, lead economist for digital…

European Countries Step Up Response to Facebook’s Libra

The European Central Bank (ECB) and a number of countries in the region have stepped up their efforts in response to Facebook’s Libra, which has revived a competing ECB project for instant payments. As Facebook engages Switzerland’s financial regulator, the ECB clarifies how Libra can…

26 central banks to quiz Facebook over Libra stablecoin today, including US Fed

Officials from 26 central banks, including the U.S. Federal Reserve and the Bank of England, are meeting representatives of Libra, the Facebook-led stablecoin project. Benoît Coeuré, a member of the European Central Bank’s (ECB) Executive Board, will chair the meeting in Basel, Switzerland, the Financial…

German Gov’t Approves ‘Bundes-Chain’ to Combat Libra Cryptocurrency

The German government will approve its proposed blockchain strategy this September which reportedly blocks projects like Facebook’s Libra cryptocurrency. Germany Readies Anti-Libra Response According to Spiegel, Germany’s federal cabinet will approve its blockchain strategy announced back in June 2019. While the move signals the country’s…

Germany takes aim at Facebook Libra; plans to block private stablecoins

The German grand coalition, the governing coalition of the two biggest political parties in Germany, is looking to deny the launch of projects like Libra, according to a report by Spiegel. This month, members of the German government will approve the country’s blockchain strategy which…

France Blocking Facebook Libra in EU Shows True Power of Bitcoin

Governments and policymakers have been in an uproar ever since Facebook debuted their Libra cryptocurrency to the world, prompting the first signs of stricter regulation around crypto and Bitcoin looming. Among the list of concerned governments is France, whose Finance Minister just revealed that it…