Libra

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.

[more]

G7 warns on Libra; N.Y. Fed chief tells central banks to be bold

07/19/19

Finance ministers call for tight regulation of cybercurrencies; Williams says the Fed must “act quickly to lower rates at the first sign of economic distress.”

[more]

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.

[more]

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.

[more]

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.

[more]

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.

[more]

Regulators need more tools to keep system safe: Boston Fed chief

07/15/19

The U.S. lacks mechanisms authorized in other countries to flag nonbank risks, Eric Rosengren says.

[more]

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.

[more]

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.”

[more]

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.

[more]