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by Jitendra JOSHI Agence France Presse LONDON, United Kingdom (AFP) — Heading in to the G20 summit, Facebook is on notice from powerful regulators including the Fed chief that its ambitious plans for a global crypto-currency face piercing scrutiny. The Libra coin is endorsed by a heavyweight consortium of companies, and could see Facebook leverage its two billion-plus users to bring crypto-money out of the shadows and into the mainstream. But Federal Reserve chairman […]
by Jitendra JOSHI and Vishal MANVE in Mumbai Agence France Presse LONDON, United Kingdom (AFP) — If Facebook’s new cryptocurrency should resonate anywhere it should be India, where the social media giant has more than 300 million followers. Many Indians are shut out of banking and face punitive fees for simple transactions, like transferring money to their loved ones. But in India as elsewhere, the US company’s ambitions to remake global finance through its […]
by Glenn Chapman Agence France Presse SAN FRANCISCO, United States (AFP) — Facebook is leaping into the world of cryptocurrency with its own digital money, designed to let people save, send or spend money as easily as firing off text messages. “Libra” — described as “a new global currency” — was unveiled Tuesday in a new initiative in payments for the world’s biggest social network with the potential to bring crypto-money out of the shadows […]
