Libra has only been public for a few days, but it has been enough time for regulators around the world to savage the project and schedule hearings. Jorn Lambert, executive vice president of digital solutions for Mastercard, said the project's objectives are aligned with the regulators' concerns.

If Libra becomes a major financial force, the stability of global finance is on the line.

The Facebook digital-currency unit has a logo nearly identical to that of the challenger bank Current, which has been around since 2015.

Facebook’s Libra shows technology companies are a far greater threat to a bank than other banks, argues Token.io’s Marten Nelson.

Readers weigh in on big tech companies walking away from OCC's fintech charter, House committee wanting Facebook to halt Libra, calls to stop Congress from delaying CECL, and more.

Community bank executives, payments officials and others said Libra faces an uphill battle amid heavy competition and regulatory scrutiny.

Banks shouldn’t have trouble this year, but the rules may change next year; U.S. authorities are probing possible AML compliance violations at the German bank.

Senators will examine the social media giant’s plan to offer a digital currency. House Financial Services Committee leaders have already criticized the idea.

Facebook grabbed the spotlight this week with the announcement of its Libra cryptocurrency initiative, and its list of high-profile supporters suggests that it's the only game in town. But banks have their own projects in the works.

Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.

Facebook's Libra project didn't come from nowhere. The social network has a long history of experimenting with digital payments, and launched a separate (and ill-fated) digital currency a decade ago.

Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.

Facebook unveiled plans for a new cryptocurrency that the social-media giant hopes will one day trade on a global scale much like the U.S. dollar.

The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.

Facebook's Libra, or GlobalCoin, will be cryptocurrency's largest test — fueled by a collection of huge investors that will determine if mainstream merchants and consumers will actually use a payment system featuring an alternative currency.

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit.

Distributed ledgers are already revolutionizing international transactions and trade finance. The added stability will bring about even greater adoption, argues Neutral's Matt Branton.

The social network's GlobalCoin has the audience to be a huge currency but it may not deliver on the concept of decentralization that underpins the cryptocurrency industry, contends Richard Dennis, founder and CEO of temtum.

The bank dropped out of the bidding for the card over profitability fears; returning to the market could boost Barclays' investment bank.

If cryptocurrency is on its way to becoming a mainstream payment method in the U.K., it will be due to an increased appetite from major card networks for forming alliances with leading cryptocurrency providers.