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Regulators are reportedly concerned that the Libra currency could shut out rivals and create “competition restrictions” related to the use of information and consumer data. The EU is also examining the integration of Libra wallets into Facebook’s WhatsApp and Messenger services, according to Bloomberg.
Facebook will not launch the cryptocurrency Libra until it has “fully addressed regulatory concerns,” according to David Marcus, the head of Facebook’s Calibra. The remarks are prepared testimony he plans to give tomorrow, in front of the US Senate Banking Committee.
France is creating a G7 task force to ensure that transnational crypto currencies like Facebook’s Libra are regulated to protect the economy and the consumer.
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.
Facebook announced its cryptocurrency Libra and a global association of organizations that will govern it. And Facebook also announced Calibra, a new subsidiary that will build a digital wallet for Messenger, WhatsApp, and a standalone app on iOS and Android.
These companies include major financial organizations like Visa and Mastercard, and internet darlings like PayPal, Uber, Stripe, and Booking.com. Each will invest around $10 million to fund development of the currency, and will become part of the Libra Association, an independent consortium that will govern the digital coin independently of Facebook.
Ahmed Musa has stated Nigeria will not underrate Lesotho when they meet in an Africa Cup of Nations qualifying game on Sunday.
The Centre for Democracy and Development (CDD) said political parties used fake news to delegitimise Independent National Electoral Commission (INEC) and the electoral process during Kogi governorship election.
Former Governor Idris Wada of Kogi State, has expressed optimism that the Peoples Democratic Party (PDP) will win Saturday’s governorship election in the state.
The All Progressives Congress (APC) has alerted security agencies especially the military and the police of an alleged plot by leaders of the Peoples Democratic Party (PDP) to frustrate collation of results in Bayelsa State.
Kogi elections: Vote-buying, electoral violence rife despite heavy security presence – Situation Room
It said attacks on electoral observers, vote-buying and electoral violence happened despite the heavy presence of security officials.
German authorities detained an Islamist who was deported from Turkey with his family on Friday as Ankara continued to deport individuals with alleged affiliations to the Islamic State terrorist group to their European countries of origin.
Evo Morales, who resigned as Bolivia’s president Sunday after losing the support of the army and police, has said there is now a warrant for his arrest.
The death toll from a cyclone that barrelled into the coasts of Bangladesh and India has risen to 24, authorities said Monday, as the two nations assess the scale of devastation wreaked by the powerful storm.
President Muhammadu Buhari has congratulated the Overseer of the Latter Rain Assembly, Pastor Tunde Bakare, on his 65th birthday.
Enyimba and Rangers will come up against North African oppositions in the group stage of the CAF Confederation Cup.