America’s lawmakers and Federal Reserve officials “are so concerned about Facebook’s plans to launch a new digital currency,” reports Politico’s financial services reporter, “that they’re contemplating a novel response — having the central bank create a competitor.”
Momentum is building for an idea that was once considered outlandish — a U.S. government-run virtual currency that would replace physical cash, a dramatic move…
Tag: Bank of England
Facebook Token Runs Into Instant Political Opposition in Europe
Hours after Facebook unveiled its cryptocurrency project today, European officials have called for scrutiny of the plan, raising concerns over whether the project was sufficiently regulated. From a report: French Finance Minister Bruno Le Maire said the digital currency known as Libra shouldn’t be seen as a replacement for traditional currencies. “It is out of question” that Libra “become a sovereign…