Digital currencies

Swiss financial regulator Finma said Libra would need a payment system license and would be subject to additional rules to take “bank-like” risks into account. The “highest international anti-money laundering standards” would also need to be applied, it said in a statement on Wednesday.

The company sees increasing consumer demand for cryptocurrency, especially in Asia, and gradual acceptance among financial institutions.

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.

Two weeks after lawmakers grilled a Facebook exec over its crypto plans, they acknowledged there are benefits from digital currency technology and urged U.S. companies to take the lead.

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation.

It's created a new digital assets and distributed ledger group, trades bitcoin futures and is funding a crypto exchange.

Facebook's announcement makes it more important than ever to clarify what a digital security and cryptocurrency are, and what they are not, according to Juan Hernandez, CEO of Openfinance and Carlos Domingo, CEO and co-founder of Securitize.

The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”

What Facebook really needs is another heavyweight like Amazon or Google to help spur cryptocurrency competition.

Facebook’s cryptocurrency pilot highlights just how important it is for regulators and banks to figure out where they land in the emerging monetary digital age.

What Facebook really needs is another heavyweight like Amazon or Google to help spur cryptocurrency competition.

The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.

Facebook’s cryptocurrency pilot highlights just how important it is for regulators and banks to figure out where they land in the emerging monetary digital age.

CEO David Solomon said that Goldman is “absolutely’’ looking at digital currencies and conducting “extensive research’’ on tokenization.

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

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

Former Barclays CEO John Varley was accused of trying to obtain funds to avoid a government bailout; borrowing to pay for weddings surged last year.

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations are in store.

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