It s been nearly two years since Facebook launched its ill-fated Libra cryptocurrency effort.
Since then, the popularity and acceptance of cryptocurrencies has soared.
But while the world has left Libra for dead, Facebook has not given up on its crypto dreams.
In June, 2019, Facebook unveiled plans to create a digital currency called Libra that, once released the next year, would be pegged to hard currencies including the US dollar. As Facebook spun things, Libra would be a democratizing force, a salve for the unbanked, the tech giant s benevolent gift to the world.
It was a sound-and-fury announcement greeted with attendant shock and awe: by cryptocurrency advocates who had dreamt of such a powerhouse getting behind their cause; by established payments players and their merchant customers excited by the convenience of non-government-controlled money transfers; and, less enthusiastically, by governments themselves, chagrined by the notion that Facebook might usurp their autho
Bitcoin only going up because it s going up
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Largest crypto exchange names ex-U S senator Baucus adviser
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Largest Crypto Exchange Names Ex-U.S. Senator Baucus as Adviser
Bloomberg 3/11/2021 Joanna Ossinger
(Bloomberg) Binance Holdings Ltd., the world’s largest cryptocurrency exchange, has named prominent former U.S. politician Max Baucus as a policy and government-relations adviser.
Baucus, a 79-year-old Democrat who served as Senator from Montana for more than three decades including a seven-year stint as Chairman of the Senate Finance Committee, and later as U.S. ambassador to China from 2014-2017, will provide guidance and policy advice covering some of the world’s most important financial jurisdictions and agencies, according to a statement from Binance. He will also liaise with U.S. officials on best practice and policies affecting the industry, it said.
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LONDON (Reuters) - If central bank digital cash is to rapidly replace banknotes, a shadow economy worth trillions of dollars may creep deeper into the darkness.
A big issue for governments and central banks then is the extent to which it s already going there - or whether the latest explosion in cryptocurrency values, for example, is at least partly pricing its imminent arrival.
Monetary authorities from Beijing to Frankfurt have over the past year accelerated plans for legal tender in digital format, in part to keep pace with the explosion of private sector crypto-coins and online payment systems of recent years. The plethora of designs and concepts being bandied about so far make it difficult to get a clear picture of what will emerge.