It is unclear how a 'libra' denominated transaction might be governed in the future and it might require the creation of an entirely new oversight entity.
Jim Cramer weighs in on his thoughts about Libra after Facebook's digital currency was criticized by President Trump and Federal Reserve Chair Jerome Powell.
President Donald Trump added his voice to a growing list of regulators and lawmakers who are concerned with Facebook's plans to launch a global digital currency that could challenge U.S. dollar hegemony and put financial stability at risk.
This matters: Why the sudden 'weakness' across European debt markets?
Surprise, surprise: Regulatory opposition toward digital currencies at home and abroad is rising against Facebook.
President suggests Facebook would have to seek bank charter to proceed with its cryptocurrency plans.
U.S. Rep. Maxine Waters, a California Democrat who heads the House Financial Services Committee, tells Federal Reserve Chair Jerome Powell that regulators aren't prepared for the emergence of cryptocurrencies, amid gnawing fears that Facebook's proposed digital currency, Libra, might serve to erode the supremacy of the U.S. dollar in the global financial system.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
Sign up to get started or log in to see your watchlist.
Enter a symbol above to add it to your watchlist.
A confirmation email has been sent to the address provided during registration. Please click on the appropriate link to confirm your email address.