News Topic: Libra

Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions. ... Read full article

Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative. ... Read full article

Stuart Levey, HSBC’s chief counsel and a former U.S. Treasury undersecretary, will head the cryptocurrency project; lender groups say the demands of those small business loans are not so easy to meet. ... Read full article

The former Treasury Department official would be the first CEO of the digital currency association, which is seeking payment licenses in the U.S. and Europe. ... Read full article

Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults expected. ... Read full article

Facebook and its partners are considering redesigning the Libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators and rebuild momentum for the plan. ... Read full article

The deal, which could be announced Monday, would push the TurboTax maker into consumer finance; the bank would follow U.S. rival Goldman Sachs into the British market. ... Read full article

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress. ... Read full article

Citi, Goldman chiefs say they won’t be pressured to stop financing companies based on carbon footprint; Vodafone bolts from Facebook’s digital currency project. ... Read full article

Facebook’s stablecoin initiative has inspired countless ideas about how to put fintech under the control of federal regulators. Here are the most critical questions. ... Read full article

The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark. ... Read full article

Global stablecoins could hurt financial stability if they are improperly designed and unregulated, according to a Fed report. ... Read full article

China dominates the business. Facebook's proposed cryptocurrency could help alter the balance of power. ... Read full article

President Xi wants faster research on blockchain, the technology behind digital currencies; low rates bring best home loan quarter in 14 years. ... Read full article

Facebook CEO says the company won’t purse Libra anywhere if U.S. regulators disapprove; the agency says “guidance” was actually “rules.” ... Read full article

Ravi Menon says that Facebook's bid to create its own digital currency has laid bare shortcomings in cross-border payments and financial inclusion that banks and regulators must address. ... Read full article

As Congress continues to seek answers about the proposed ccryptocurrency, the appearance by Facebook’s CEO cast further doubt on the project’s future. ... Read full article

A federal judge says the agency can’t issue national bank charters to fintechs; Facebook’s CEO will state his case at a House hearing. ... Read full article