Day: November 26, 2019

Libra Co-Founder Says It Isn’t Competing With Fiat Currencies

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Libra co-founder and chief economist of Calibra Wallet Christian Catalini has attempted to clear up misconceptions in relation to the planned digital coin in an interview with CNN’s Julia Chatterley. The release of the whitepaper on Facebook’s (NASDAQ:FB) proposed coin back in June prompted massive debate from politicians around the world, most of which vehemently oppose the plan as they feel it poses a threat to the economic sovereignty of nations. Catalini has attempted to allay some of those concerns by saying that Libra is, at its most basic, a…

Telegram Founder Durov Should Testify in SEC Case Over Gram Token: Judge

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Telegram’s founder and CEO Pavel Durov, as well as two other employees, should give testimony in the SEC vs. Telegram case, a judge has ordered. According to a document signed by District Judge P. Kevin Castel at the New York Southern District Court on Monday, Durov’s deposition should take place on Jan. 7 or 8, 2020, at a location “agreed upon by the parties.” That would be a little more than a month before Telegram is scheduled to meet the SEC in court to dispute the legal status of the…

Global Stablecoins Pose Risks to a ‘Fragmented’ Europe

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European Central Bank (ECB) board member Benoit Coeure has warned that global stablecoins remain untested and raise potential risks across multiple policy domains.   Coeure, a member of the ECB’s Executive Board, made his remarks at the Joint Conference of the ECB and National Bank of Belgium on Nov. 26, in a speech entitled “Crossing the chasm to the retail payments of tomorrow.” Global stablecoins pose broad policy risks Coeure’s speech was focused on the failure to establish a pan-European, market-led solution for digital retail payments.  Notwithstanding progress with back-end…