Facebook revamps Libra cryptocurrency, says will be linked to individual national currencies and overseen by global watchdogs
The revamp could allow governments to "directly integrate" any future CBDCs into its network, Libra said.
G20 sets out a rulebook for a common, international approach to regulating digital currencies like Facebook's Libra
The recommendations propose flexible, cross-border cooperation to avoid a stablecoin playing off one jurisdiction against another.
Banks spent last decade pulling out their economies from 2008 financial crisis, might spend next decade dealing with climate change.
Backers including financial companies Paypal Holdings Inc and Mastercard Inc also exited Libra project.
Facebook Libra is to be backed by a reserve of assets such as bank deposits and government debt.
Facebook, Google, Amazon and other Big Tech could be forced to share data on fintech services customers
The FSB said players including Microsoft, Amazon, eBay, Baidu, Apple, Facebook and Tencent, have massive databases, while some offer asset management, payments and lending.
China's digital currency will not seek full control of individuals' transaction details, says central bank official
China is preparing to be the first country to roll out a digitised domestic currency, a development that is being closely watched by the world's financial services industries
Dorsey says Libra is "not consistent with what I personally believe and what I want our company to stand for.”
Facebook CEO was questioned on election interference, free speech, hate groups and fake news.
Zuckerberg’s prepared statement was released before his hearing about Facebook’s Libra cryptocurrency.
Facebook is open to looking at alternative approaches for the currency token it would use, says project head.
Amid sharp regulatory scrutiny, the 21 firms backing Libra pledged to forge ahead with the project.
Facebook’s ambitious efforts to establish a global digital currency have suffered severe setbacks in recent days.
Libra backers need to answer how they would ensure the currency is not used for illegal activities.
The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members.
The Libra Association's 21 founding members include Uber, Spotify, and Vodafone.
The financial backers to Libra reportedly did not want to attract regulatory scrutiny and declined public support for the project.
Zuckerberg addresses the government's attempt to break-up the company, it's competition with TikTok, Libra cryptocurrency, more.
China’s yuan currency will not be included, which could help smooth Libra’s path in the US.
Facebook met junior ministers and officials in charge of cryptocurrency policy at the UK finance ministry in April.