Libra Exec Is Confident Association Will Hit 100 Members before Official Launch

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Libra Exec Is Confident Association Will Hit 100 Members before Official Launch
Libra’s interim managing director is quite sure the team will reach its goal of a hundred members by next year.
Libra Exec Is Confident Association Will Hit 100 Members before Official Launch

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Source: CoinSpeaker

After Paypal, Mastercard, Visa, Stripe and eBay Abandoned Facebook’s Libra

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After Paypal, Mastercard, Visa, Stripe and eBay Abandoned Facebook’s Libra
Mastercard, Visa, eBay, Stripe and Mercado Pago have all pulled out of the Facebook-led Libra Association following PayPal, which pulled its own support of the project earlier this week.
After Paypal, Mastercard, Visa, Stripe and eBay Abandoned Facebook’s Libra

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Source: CoinSpeaker

Facebook’s Libra project loses support from Visa, Mastercard, eBay, Stripe

“Challenging the government’s monopoly on the printing press requires you to not be at the government’s mercy. This is the reason Bitcoin was released by anonymous entities, and it is also one of the reasons that cryptocurrencies backed by goods [even fiat currency] are a bad idea from a regulatory perspective.” These words were from […]
The post Facebook’s Libra project loses support from Visa, Mastercard, eBay, Stripe appeared first on AMBCrypto.
Source: AMB Crypto

Facebook’s Libra to Be Forked to ‘OpenLibra’

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Facebook’s Libra to Be Forked to ‘OpenLibra’
Announced at Ethereum Foundation’s Devcon 5 conference, OpenLibra is described as an “open platform for financial inclusion,” with a telling tagline: “Not run by Facebook.”
Facebook’s Libra to Be Forked to ‘OpenLibra’

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Source: CoinSpeaker

You Can Bet on whether or not Facebook’s Libra will Launch by 2020

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You Can Bet on whether or not Facebook’s Libra will Launch by 2020
Investors can bet on Libra’s launch on the CoinFLEX platform. The firm offers derivatives that let traders buy into futures to be delivered in Libra tokens.
You Can Bet on whether or not Facebook’s Libra will Launch by 2020

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Source: CoinSpeaker

PayPal Absent From Libra Association Meeting, Might Abandon Facebook’s Project Entirely

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PayPal Absent From Libra Association Meeting, Might Abandon Facebook’s Project Entirely
PayPal was the only company noticeably absent at the recently held Libra Association meeting. The payment giant is reportedly planning to quit Facebook’s project to keep its hands clean of regulatory dirt.
PayPal Absent From Libra Association Meeting, Might Abandon Facebook’s Project Entirely

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Source: CoinSpeaker

Libra: US Senate House Wants Facebook’s Mark Zuckerberg to Testify – Report

The US Senate House of Financial Services Committee has been completely opposed to Facebook’s cryptocurrency project, Libra. Much of their disagreement is steeming from their dislike for Mark Zuckerberg. Reportedly, the Committee under has asked him to testify before January 202.
“We need to get Mark Zuckerberg here!” – Senator Sherman during David Marcus’s (Libra Head) hearing on 17th July with the committee.
Although David Marcus tried to emphasis on the fact that Libra would work independently of Facebook Inc., Congress-men and women were not satisfied with the response. The sheer user base of Facebook (about 2.38 billion) likely makes it the leading member and benefactor of the council.
Facebook Inc Chief Operating Officer Sheryl Sandberg has earlier agreed to testify before Oct. 29. However, the congression source told the media that it would not accept Sandberg’s testimony and instead asked Zuckerberg to attend.
On the progress from the Association, Libra has planned a meeting of the initial governing council members in October. However, reportedly, leading members are getting cold feet because of the regulatory oversight on the proposed plan. MasterCard, Visa, PayPal, and Stripe Inc. have started to show signs of backing out. The involvement of firms in the October meeting will be critical for the project.
Concerns Galore
Facebook’s Libra has received a lot of criticism from the Central Banks of the world. The main reason for worry has been the capital outflow from central banks to the new Libra Reserve. Recently, the CEO of Apple, Tim Cook, reiterated the same. He told Les Echos,
“No. I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,”
If Zuckerberg agrees, he can also expect the Senate House to dig up the past and defame Mark for breach of privacy in the past. As CEO and Founder, he was heavily criticized for their unethical involvement in the US Presidential Election of 2016.
Furthermore, in another recent congressional meeting of the SEC with the House of Financial Services Committee, the argument for Libra as ‘security,’ ETF, or mutual funds became widely accepted. While the SEC refrained from making any direct statement on the matter, it would be one of the most important topics of their hearing.
Do you think Zuckerberg would testify before congress for Libra or threat its end? Please share your views with us. 
The post Libra: US Senate House Wants Facebook’s Mark Zuckerberg to Testify – Report appeared first on Coingape.
Source: CoinGape

Visa, Mastercard and Other Major Libra Backers Want to Pull Out from the Deal

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Visa, Mastercard and Other Major Libra Backers Want to Pull Out from the Deal
Facebook’s Libra is facing many regulatory challenges that have made institutional backers like MasterCard, Stripe, PayPal, and Visa lead several other potential partners in casting their doubts about the project.
Visa, Mastercard and Other Major Libra Backers Want to Pull Out from the Deal

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Source: CoinSpeaker

Facebook’s Libra needs committed members, claims David Marcus as Visa and Mastercard rethink their association

Recently, social media giant Facebook announced its entry to the crypto-industry with its native currency, Libra. Despite its massive user base and financially stable establishment, the social media platform hasn’t been lying on a bed of roses however, as the SEC has been questioning every move made by Facebook. Recently, The Verge revealed a leaked […]
The post Facebook’s Libra needs committed members, claims David Marcus as Visa and Mastercard rethink their association appeared first on AMBCrypto.
Source: AMB Crypto

Libra Head Calls BS on Press Report Claiming Visa and MasterCard Might Back Out

The series of bad news for Libra continues, now, apparently, backers of the project are second-guessing their involvement. Libra Head, David Marcus, formally with PayPal replied to the WSJ’s report saying, “tone of some of this reporting suggests angst.”
According to the report, Visa and Mastercard have declined to publicly support the project. Moreover, including them, PayPal and Stripe Inc. are also reconsidering their membership according to another report by Bloomberg. Their sources remained anonymous, but given the ‘regulatory scrutiny’ that Libra has faced since its announcement, it is not surprising as well.
Nevertheless, David was not satisfied with the reporting standards. He said that he has, “no knowledge of specific organizations plans to not step up.” He also added,
The part of this article suggesting we weren’t on top of, or didn’t share detailed information about how to secure Libra and protect the network against illegal activity is categorically untrue; (worth calling BS)
How Long will the Wait be?
Regulators have strongly opposed the plan fearing a shift of monetary power from the Feds. Even Marcus accepted that “it will be a long road.” Irrespective of the backers getting cold feet, the project release by 2020 seems highly doubtful. However, the firm is still optimistic about meeting its June 2020 timelines.
Both Facebook’s stock and Bitcoin [BTC] price surged after the initial announcement. FB inc. rose by about 25% from $164 to test a high above $205.
BTC/USD 1-Day Chart on Bitstamp (TradingView) (Initial Libra Announcement on 6th June)
Bitcoin [BTC] also witnessed a strong bull market post the announcement. Three after the hype, the price of both assets have gone back to earlier levels. While FB inc. is trading at $175, BTC price is $8245.
Furthermore, Marcus also mentioned that the first official wave of announcements of the member council will be made in the next few weeks. Due to the global attention that Libra has raised among regulators, the backers might be reconsidering its associations which could possibly taint its public image affecting stock prices.
Last but not least, a number of privately funded cryptocurrency projects have launched in the market. However, with Libra, Facebooks’ past has been particularly attracting regulatory oversight.
Do you think that the backers will move to other blockchain projects? Please share your views with us.  
The post Libra Head Calls BS on Press Report Claiming Visa and MasterCard Might Back Out appeared first on Coingape.
Source: CoinGape

Fidel Payment API Provider Has Raised $18M to Let Developers Build ‘Card-linked’ Apps

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Fidel Payment API Provider Has Raised $18M to Let Developers Build ‘Card-linked’ Apps
Fidel has received funding that it hopes to use in the expansion of its services to other countries. The startup which is in partnership with major card companies, such as Visa and MasterCard, offers developers easy access to the card networks.
Fidel Payment API Provider Has Raised $18M to Let Developers Build ‘Card-linked’ Apps

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Source: CoinSpeaker

How Learning About Blockchain Can Help Your Future Career

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How Learning About Blockchain Can Help Your Future Career
While blockchain is conquering more and more spheres, it may be rather sensible to consider it as a new option for your career development and professional growth.
How Learning About Blockchain Can Help Your Future Career

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Source: CoinSpeaker

Cryptocurrencies may be the silver bullet gun advocates need to circumvent restrictions, uphold the Second Amendment

The shootings in Dayton, Ohio and El Paso, Texas are still fresh in the memory of Americans. Like every previous shooting, these raised urgent questions about gun laws in the United States of America. However, while several political and social groups went on to attack the National Rifle Association and the pro-gun lobby, one group […]
The post Cryptocurrencies may be the silver bullet gun advocates need to circumvent restrictions, uphold the Second Amendment appeared first on AMBCrypto.
Source: AMB Crypto

Visa Invest $40 Million in Crypto Startup, is Mainstream Acceptance Here?

Electronic payments giant, Visa, along with VC firm, Blockchain Capital, have raised $40 million for a Series B funding round at digital asset custodians, Anchorage. The little-known startup seeks to advance institutional participation in cryptocurrencies. And this latest round of funding brings a total of $57 million invested since 2017.
While Anchorage is a relative newcomer to the space, both Visa and Anchorage are participating companies in Facebook’s Libra project. And despite the criticisms that beset Libra, that hasn’t stopped them, as well as a host of others, from wanting to get in on the crypto game.

Anchorage Provides Custodial Services With A Difference
The goal of Anchorage is straightforward. They intend to bring institutional investors to the space by providing secure custodial solutions. Co-founders, Diogo Mónica and Nathan McCauley wrote:
“We’ve started with solving the biggest problem facing our industry: making it safe for institutions to hold and use crypto. Since starting down this path in 2017, we’ve built the most secure digital asset custody solution on the market, and on-boarded some of the leading institutional investors in the space as clients, including Blockchain Capital, Polychain, Paradigm, and a16z crypto.”
Custodial services are nothing new. But Anchorage differentiates itself on a number of fronts, including participation features such as offering returns for staking and inflation, as well as support for on-chain governance.
But perhaps the most pertinent difference lies in their next generation cold storage solution. It relies on biometric software, as well as multiple approval systems, including human review, to secure the digital assets of clients. According to Mónica, this is particularly advantageous because:
“…investors gain greater access to and control over their holdings, enabling them to freely and actively participate in cryptocurrency networks.”
In this respect, the co-founders draw parallels with Visa, in that, Visa also provides “financial plumbing.” To which SVP and Head of Fintech at Visa, Terry Angelos, said:
“This investment is consistent with Visa’s global strategy to partner with and invest in emerging fintech companies…We’re pleased to add Anchorage to our growing investment portfolio.”
Visa’s Investment Indicates Growing Mainstream Acceptance
Not so long ago, legacy US financial organizations, including Citibank, JPMorgan, and Bank of America, moved to ban crypto related transactions. This had a trickle-down effect of smearing cryptocurrency in the minds of no-coiners.

Yesterday in Congress Rep. Sherman called for a bill to ban all #cryptocurrencies, due to concerns about illegal activities. This doesn’t surprise us, as his top campaign donations are coming from banks and credit card companies. #crypto
— Weiss Ratings (@WeissRatings) May 10, 2019

And while Visa had concerns over KYC and AML, they remained somewhat openminded when it came to cryptocurrency. Speaking to CNBC in October 2018, Visa CEO, Al Kelly talked about the threat of cryptocurrency to Visa’s business:
“Certainly not in the short to medium term in any way. And I think if we actually think that crypto starts moving from being more of a commodity to actually really being a payment instrument. If it goes in that direction, we will move in that direction. We want to be in the middle, Jim, of every payment flow in the world regardless of how it happens or what the currency is behind it. So if we have to go there, we will go there. But right now, it’s more of a commodity than a payment vehicle.”
Indeed, with Visa’s continual investment in crypto companies, it would seem as though that moment has happened. But more than that, Visa’s interest in cryptocurrency is an indication of growing mainstream acceptance. Which is a term that has often been banded about in the past.
But now, in the present, there is no denying the evidence that exists throughout the space. And while a number of significant hurdles still exist, most notably in a balanced global regulatory framework. It feels as though the worst is behind us.
The post Visa Invest $40 Million in Crypto Startup, is Mainstream Acceptance Here? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

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Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian
Anchorage has announced that they have raised around $40M in a Series B funding round. A few of the large backers include Visa, Blockchain Capital, and Andreessen Horowitz. Anchorage provides crypto custody services for institutional investors.
Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

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Source: CoinSpeaker