Rep. Joyce Beatty, D-Ohio, grilled Facebook's David Marcus, asking about the steps he will take to educate the 1.7 million unbanked people Libra plans to reach. » Read More
By: Ryan Browne
Libra and bitcoin are different in a lot of ways, from the technology behind them to the way they're used. » Read More |
By: Tyler Clifford
"It's clearly doing more harm than good," the "Mad Money" host says. Instead Facebook should buy Square for $70 billion and expand the payments network worldwide. » Read More |
By: Annie Palmer
David Marcus, the head of Facebook's cryptocurrency project Libra, is set to testify before the House Financial Services Committee on Wednesday. » Read More |
Facebook's head of Calibra David Marcus is grilled during a House Financial Services Committee hearing over the company's digital currency plans.
Bitcoin continued its downward spiral as lawmakers added to regulatory fears by questioning the safety and legitimacy of cryptocurrency.
Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch Libra, says outgoing U.K. Finance Minister Philip Hammond.
A new IMF paper said the two most common forms of money today, cash and bank deposits, will "face tough competition and could even be surpassed."
Bitcoin is still up more than 160% since the start of the year, despite the recent pullback.
Facebook's cryptocurrency hasn't even launched yet, but it's been the talk of the town for politicians and central bankers worldwide.
Bitcoin is sliding after Federal Reserve Chairman Jerome Powell poured cold water on Facebook's plans to launch a cryptocurrency.
Facebook is launching a cryptocurrency in 2020, but Facebook users have been able to send money via Messenger since 2015.
The need to reiterate these points after only two weeks suggests Facebook will have an uphill battle getting people to trust the company with their finances.
The Middle East and Africa have seen many changes in terms of digital transformation, but there's still "huge upside," and financial technology firms are looking for opportunities there, according to Abu Dhabi Global Market.
Bitcoin surged as high as $12,919 in early morning trade Wednesday, to its highest level since January 2018.
Bitcoin traders are anticipating an event known as "the halvening," where the rewards to so-called bitcoin miners are cut in half.
Bitcoin is approaching its highest level in more than a year.
In a nod to Facebook, Carney said the central bank is keeping an "open mind but not an open door" to the company's stablecoin Libra.
Global watchdogs and congressional leaders are calling for oversight of a digital asset being launched by Facebook and other tech companies.
Facebook unveiled its Libra cryptocurrency on Tuesday, and it didn't go unnoticed by European officials.
Data also provided by 
