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Despite outcry, Congress unlikely to block Facebook's crypto plan

07/19/19

Lawmakers from both parties strongly criticized Libra this week, but largely steered clear of proposals to stop it.

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Facebook defiant at House hearing; BNY Mellon beats despite lower profits

07/18/19

The company will work on Libra, but won’t issue digital currency without proper authority; the bank’s profit dropped 8% on reduced revenue.

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House lawmakers square off over Facebook's crypto plans

07/17/19

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation.

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Consumer banking buoys earnings; Facebook faces a hostile Senate

07/17/19

Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.

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Facebook crypto exec meets congressional firing squad

07/16/19

Resistance to Libra on the Senate Banking Committee was bipartisan, and other takeaways from Tuesday’s hearing.

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Mnuchin adds to anti-Libra chorus; Fed’s Williams touts SOFR

07/16/19

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.

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Facebook's crypto plans are 'a national security issue,' Mnuchin says

07/15/19

The Treasury secretary said the U.S. government has significant concerns about digital currencies, including their potential as tools for money launderers.

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Facebook won’t launch crypto service until regulators satisfied, exec says

07/15/19

David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”

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House Democrats seek to bar tech firms from operating like banks

07/15/19

Lawmakers circulated a bill just ahead of hearings on Facebook’s Libra cryptocurrency that would prohibit companies with over $25 billion in annual revenue from launching a digital financial asset.

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Will Libra force Congress to act on data protection?

07/14/19

Almost two years after the Equifax breach led to a congressional uproar but minimal policy change, the protracted fight to enact data security and privacy reform has a new bogeyman.

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