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.
Backers including financial companies Paypal Holdings Inc and Mastercard Inc also exited Libra project.
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
Facebook has come under fire over its decision not to fact-check ads run by politicians on the platform.
At Senate hearing, Mark Zuckerberg tells Alexandria Ocasio-Cortez it's 'probably' OK for politicians to spread lies via Facebook
AOC: You don't see a problem here with complete lack of fact-checking with regards to political ads?
Mark Zuckerberg tried to project Libra as a boon for the unbanked, but failed to build even a remotely coherent case
On being asked why major partners such as Visa, Mastercard, PayPal, eBay had exited the original Libra consortium, Zuckerberg simply said that Libra is a risky project
Facebook CEO touted his optimistic vision of Libra and what it could mean for people around the world.
Facebook CEO was questioned on election interference, free speech, hate groups and fake news.
Amid sharp regulatory scrutiny, the 21 firms backing Libra pledged to forge ahead with the project.
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.
Facebook ambitious efforts to establish a global digital currency called Libra has suffered severe setbacks.
Facebook has presented Libra as a currency that could be used for digital payments.
Facebook announced plans to launch its digital currency Libra in June 2020.
China’s yuan currency will not be included, which could help smooth Libra’s path in the US.
Facebook's proposed cryptocurrency Libra has met with regulatory and political scepticism.
Facebook met junior ministers and officials in charge of cryptocurrency policy at the UK finance ministry in April.
Facebook aims to connect Libra to the WhatsApp, adding a payment leg to an already global application.
Libra could cause risks to consumers, financial stability and even “the sovereignty of European states”.
EU regulators said that scrutiny was justified even though the new digital coin has yet to be launched.