Regulators will need to “step up” to contain any dangers emanating from Facebook’s planned libra token, but shouldn’t attempt to crush the initiative, according to International Monetary Fund acting MD David Lipton.
Browsing: Cryptocurrencies
Bitcoin slid below $10 000 just three weeks after surging above it for the first time in more than a year as US legislators expressed deep scepticism about the viability of cryptocurrencies.
The US congress holding hearings on Facebook’s plan for a possible digital coin suggests that the high-profile debut for libra was likely a public relations effort gone bad.
South African online payments provider PayFast is ditching bitcoin as a payment method, saying the cryptocurrency has several “limitations and design flaws that make it an impractical substitute for cash”.
Bitcoin slumped in another large weekend move after US President Donald Trump’s criticism of cryptocurrencies late last week put the focus back on this year’s jump in prices.
Facebook’s foray into digital currencies risks reversing gains in privacy and user sovereignty won by computer networking pioneers, according to one of the co-founders of ethereum.
Japanese cryptocurrency exchange Bitpoint suspended all services after losing about ÂĄ3.5-billion (R445-million) in a hack that involved ripple and other cryptocurrencies.
President Donald Trump on Thursday night warned Facebook over its plan to create a digital currency, the libra, a move that poses a new obstacle to the company’s cryptocurrency ambitions.
Financial regulators must act fast to prepare for the push by US technology giants like Facebook into the financial system, according to European Central Bank executive board member Benoit Coeure.
This week’s Asia Blockchain Summit in Taipei highlighted how volatility is back, reviving the excitement around crypto trading.