Reports around China claim that the country is rolling out its digital currency in four cities starting next week. Owing to the COVID-19 pandemic, the health risk embedded into using physical currencies came to light.

China's grand e-currency experiment set to begin this month

In a hit to Facebook’s digital currency plans, the president of Switzerland Ueli Maurer has said Facebook’s Libra project has failed in its current form and needs reworking to be approved, as the Cryptocurrency is seeking regulatory consent.

Libra has failed in current form: Swiss president Ueli Maurer

Facebook should not launch its global digital currency Libra until proper regulations are in place to handle the potential risks, the Group of Seven said Thursday.

G7 says Libra should not launch until risks 'adequately addressed'

Pioneering digital payments firm PayPal on Friday said it is abandoning an alliance intended to oversee the Facebook-backed Libra cryptocurrency, which has come under attack by regulators.

PayPal abandons Facebook-backed Libra cryptocurrency group

Global regulators will question Facebook on Monday about its Libra cryptocurrency, amid concerns from European Union governments over the threat the digital currency poses to financial stability, the Financial Times reported on Sunday.

Global regulators to question Facebook's Libra amid EU concerns: Report

The Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing if it is to get off the ground, a senior US Treasury official said on Tuesday.

Facebook's Libra has to build anti-money laundering, anti-terror financing design: US Treasury

Fraudsters are out to cash in on interest in Facebook-backed digital currency Libra, hawking bogus buying opportunities at online venues including the social network itself.

Fraudsters exploit interest in Libra digital currency

The G7 group of the world's most developed economies are worried about Facebook's planned Libra cryptocurrency and have a shared consensus about the need to act quickly, a French official said Wednesday.

G7 worried over Facebook's Libra cryptocurrency: French official

Democratic and Republican lawmakers said on Tuesday that Facebook Inc's track record of what they described as untrustworthiness should stand in the way of it launching a digital currency, labelling the plan "delusional" and "crazy" at a Senate hearing.

Facebook should not be trusted with 'crazy' cryptocurrency plan: US senators

Facebook Inc is "delusional" to believe people will trust it with their money, a US Senator said on Tuesday as lawmakers from both sides of the aisle questioned the social media company on its plans for a digital currency at a hearing on Tuesday.

US lawmakers question Facebook over plans on Libra cryptocurrency

Facebook must meet "a very high standard" before it moves ahead with its planned digital currency Libra, US Treasury Secretary Steven Mnuchin said Monday. Mnuchin said US regulators have already expressed concerns to Facebook about the plan for a global cryptocurrency, noting that these kinds of virtual coins have in the past been associated with money laundering and illicit activities.

Facebook needs 'very high standard' for Libra coin: US Treasury Steven Mnuchin

A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for discussion by the Democratic majority that leads the House Financial Services Committee, according to a copy of the draft legislation.

US lawmakers propose barring big tech companies from offering financial services, digital currencies

Facebook's planned virtual unit Libra, already under heavy attack from US President Donald Trump and global regulators, faces scepticism among the wider cryptocurrency community as well.

Facebook's Libra currency under fire

US President Donald Trump on Thursday criticised Bitcoin, Facebook's proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to US and global regulations if they wanted to "become a bank.

If Facebook's Libra wants to become a bank, it must seek new banking charter: Trump

Bitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week's G20 summit.

After Facebook's cryptocurrency Libra, Bitcoin surges above $11,000

France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook's Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France's central bank governor said on Friday.

Creating G7 task force to ensure Facebook's Libra governed by regulations: France

Facebook Inc has unveiled plans to launch a cryptocurrency called Libra. Watch this video to know more.

Facebook unveils plan for cryptocurrency

Cryptocurrencies live in a volatile, roller-coaster world, which Facebook is seeking to change with its new Libra digital money. The new digital currency will be overseen by a nonprofit association and backed with real assets to serve as a reliable, stable form of globally accepted money that lives essentially on smartphones.

How cryptocurrencies can replace other pay options

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: Facebook unveils cryptocurrency meant to be new 'global currency'

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