No Libra-style digital currencies without rules, say EU finance ministers

European Union finance ministers have agreed to a de facto ban on the launch in the region of so-called global “stablecoins” such as Facebook’s planned Libra digital currency until the bloc has a common approach to regulation that can mitigate the risks posed by the technology. In a joint statement, the European Council and Commission […]

Libra’s critics are missing the forest for the trees

But Facebook is probably not the right actor to spearhead this initiative Nik Milanovic 8 hours Nik Milanovic Contributor Nik Milanovic is a fintech and financial inclusion enthusiast, with a decade of work across mobile payments, online lending, credit and microfinance. More posts by this contributor What money should be The Third Age of credit […]

Pegging Libra to just the $ could soothe regulators, a16z says

What if Libra wasn’t backed by a basket of international currencies, but only the dollar? Regulatory pushback to the Facebook -led cryptocurrency Libra has caused major partners — including Visa, Mastercard, PayPal and eBay — to pull out of the Libra Association. But one of the remaining members has floated a major change to the […]

Apple Card can’t be used to buy crypto

Cryptocurrency fans who were hoping to use Apple’s forthcoming credit card to splash on coin are out of luck. You also won’t be able to use the Apple Card to buy lottery tickets, casino gambling chips in any form, physical or virtual, or foreign currency or travelers checks. Reuters spotted the detail in a customer […]

Congressional testimony reveals some faults in Facebook’s digital currency plans

As Facebook continues to lay the foundation for getting some of the world’s largest payment processing and technology companies a seat at the global monetary policy table, the company faces significant obstacles to enacting its plans from both sides of the Congressional aisle. In the second of what’s sure to be many (many many many) […]

A minor cryptocurrency partners with a major porn network. What could go wrong?

Yesterday brought some interesting news in the cryptocurrency space. In a move that is at once sleazy and ridiculous, PornHub and its tech arm MindGeek announced a partnership with the creators of VergeCoin (XVG), an anonymized cryptocurrency in the vein of Monero that is currently trading at 7 cents, down from an all-time high of […]

Ethereum falls after rumors of a powerful mining chip surface

Rumors of a new ASIC mining rig from Bitmain have driven Ethereum prices well below their one-week high of $585. An ASIC – or Application-specific integrated circuit – in the cryptocurrency world is a chip that designers create for the specific purpose of mining a single currency. Early Bitcoin ASICs, for example, drove adoption up […]