Libra

The payments company’s departure from the association leading Facebook’s Libra cryptocurrency plan is the clearest sign that skeptical policymakers are the plan's biggest obstacle.

The company was the only no-show at the gathering of Facebook’s payments partners; HSBC was fined $650,000 for violating swaps risk management rules.

Facebook calls an emergency meeting about its planned payments network; Well Fargo report says 200,000 jobs will be lost to robots and technology.

One of the world’s largest cryptocurrency exchanges said it has learned a valuable lesson from the push back on Facebook Inc.’s Libra and will take a different approach as it works on a rival project.

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency.

After years of keeping a low profile, banks plan to spend in next year’s elections; the digital currency has eyes on the unbanked.

While bank stocks flounder, their bonds are seen as a haven against a possible recession; the senator asks bank about overdraft fees on closed accounts.

One of the largest cryptocurrency exchanges is looking to partner with governments and companies to develop new digital currencies as it competes with the Libra project spearheaded by Facebook Inc.

From housing finance to Facebook’s crypto plans, moderators questioning the presidential candidates in Texas next month would have no shortage of financial policy topics from which to pick.

There are subtle differences in Walmart's virtual currency project compared to Facebook's Libra, but these may be enough to avoid the regulatory firing squad that Facebook has endured.

There are subtle differences in Walmart's virtual currency project compared to Facebook's Libra, but these may be enough to avoid the regulatory firing squad that Facebook has endured.

The panel has had 13 public meetings since the Massachusetts senator’s last appearance, in May.

David Marcus spent more than 15 years climbing the ranks in the mobile sector before becoming PayPal’s president and then moving onto Facebook, where he now leads the blockchain team that launched the controversial Libra cryptocurrency project.

Walmart has filed a patent application for a digital currency that, like Facebook's Libra, would be a stablecoin backed by traditional currencies. And it envisions a very specific use case where its coin could stand in for cash — or even for a bank account.

Facebook must have expected some backlash when unveiling its plans for Libra. But it may have underestimated just how much.

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.

Gone are the Wild West days of Facebook, when the company could do whatever it wanted with little worry of regulatory or earnings repercussions. And as the social network embarks on its Libra currency project, its toughest days loom ahead.

Libra and Facebook’s huge impact on the conversation around blockchain and cryptocurrency is giving fuel to other blockchain companies that portray their models as alternatives to Facebook’s controversial plans.

Firm will pay $700 million to settle issues stemming from data breach; don’t expect JPM CFO Jennifer Piepszak, or anyone else, to be named heir apparent.

Lawmakers from both parties strongly criticized Libra this week, but largely steered clear of proposals to stop it.