PYMNTS

JUNE 20, 2019

Facebook’s Libra cryptocurrency and Calibra digital wallet won’t be available in certain markets. The social media giant shared its plans for both projects, which aim to transform financial services worldwide by empowering the more than 1.7 billion people around the world who currently do not have a bank account.

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PYMNTS

JUNE 27, 2019

The head of Germany’s Federal Cartel Office said on Thursday (June 27) that cryptocurrency backed by large tech companies could be put under a microscope by antitrust regulators, according to a report by Reuters. Many bankers and financial analysts voiced concern that the new currency could alter the global financial framework.

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PYMNTS

JUNE 20, 2019

Bank of England (BOE) Governor Mark Carney said Facebook’s newly-announced cryptocurrency, Libra, can’t be the same unregulated type of service that Facebook is, according to a report by Reuters. Unlike social media … the terms of engagement for innovations such as Libra must be adopted in advance of any launch.”.

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PYMNTS

DECEMBER 12, 2019

The China Securities Regulatory Commission , China’s security watchdog, is setting up a technology regulation bureau and will announce Yao Qian as its new department chief, the Chinese business publication Caijing said on Wednesday (Dec. 11), as reported by Coindesk. Yao was the head of China’s central bank digital currency initiative. .

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PYMNTS

NOVEMBER 12, 2018

According to The Next Web , hours after moving all raised funds out of its wallet, the company shut down its website, deleted its social media accounts and kicked all users off its chat group. Over the past two years, exit scammers have stolen more than $100 million worth of cryptocurrency.

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PYMNTS

NOVEMBER 3, 2020

The company’s recent investments — particularly its expansion into cryptocurrency and buy now, pay later (BNPL) financing — were of particular interest to analysts during the Q&A segment of the earnings call. Pinterest Gains Advertisers as It Competes With Other Social Networks. Ant IPO Postponed by Shanghai Stock Exchange.

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PYMNTS

JUNE 25, 2019

The House Financial Services Committee has scheduled hearings about the proposed merger between BB&T and SunTrust Banks, as well as the Facebook-planned cryptocurrency Libra. According to American Banker , the committee will meet July 17 to examine Facebook’s proposed cryptocurrency and its impact on consumers, investors, and the U.S.

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PYMNTS

DECEMBER 24, 2020

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies.

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PYMNTS

AUGUST 20, 2019

European Union antitrust regulators announced that they are “currently investigating potential anti-competitive behavior” related to Facebook ’s Libra. Facebook and the commission both declined to comment on the investigation. Facebook has said it will release Libra sometime in 2020. lawmakers, led by Rep.

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PYMNTS

JANUARY 29, 2020

Facebook reported a 51 percent spike in its costs and expenses for the full year 2019 — that increase coming as the social media platform faces more questions from regulators and policymakers about its present and planned endeavors. 29), and reported that total costs and expenses hit some $46.71 billion. “We Challenges to Come.

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PYMNTS

JUNE 24, 2019

The think pieces have come in waves, as have the reactions from analysts, cryptocurrency enthusiasts and regulators — and the world waits to see exactly what Facebook and its cadre of payments and commerce players design. There will be perceptual hurdles to clear, and regulators to convince.

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PYMNTS

JULY 23, 2019

The Swiss Federal Data Protection and Information Commissioner (FDPIC) said it still hasn’t heard from Facebook regarding its supposed oversight of Libra, the social media giant’s proposed cryptocurrency. . Libra has already faced stiff scrutiny from regulators and policymakers all over the world.

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Abrigo

MARCH 8, 2024

They employ technology and social engineering tactics, reaching victims through email, social media, and text messages. Fraudsters use the same sales and marketing techniques as legitimate businesses to research and target their victims. Understand that scammers are professionals. There are no accidental targets.

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Payments Source

FEBRUARY 21, 2018

Despite panicked cries to the contrary on social media and cable news, federal authorities are keeping a careful eye on evolving digital currency markets, as regulators are likely to tell Congress on Tuesday.

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PYMNTS

SEPTEMBER 11, 2019

The Libra Association is petitioning the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned Libra cryptocurrency, Reuters reported on Wednesday (Sept. The social media giant wants to move forward and launch Libra in June despite global questioning and hesitation.

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PYMNTS

JULY 27, 2018

dollars that are exchanged from the user’s existing cryptocurrency account. FitPay chose that channel, as it can be challenging to find bitcoin users: Mainstream social media companies and ad venues have cut off crypto advertising for various reasons, for example. and president of FitPay, told PYMNTS.com in an interview.

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PYMNTS

OCTOBER 8, 2018

The impact of Europe’s General Data Protection Regulation ( GDPR ) continues to take shape roughly five months after taking effect, and Facebook could be on the hook for billions of dollars in fines tied to a data breach of about 50 million user accounts. Crypto Regulations.

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PYMNTS

JUNE 20, 2019

Federal Reserve Chairman Jerome Powell revealed that Facebook has spoken to the central bank about its upcoming cryptocurrency, called Libra. With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users,” she said.

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PYMNTS

JULY 15, 2019

To determine if Facebook needs a banking license to roll out Libra, Britain’s outgoing finance minister has said that regulators and not lawmakers should make the decision. The official, Philip Hammond, also noted that the government of Britain will “engage” with the cryptocurrency and will not try to halt it, CNBC reported.

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PYMNTS

JULY 14, 2019

Japanese authorities have formed a task force to study the impact of Facebook’s proposed cryptocurrency , Libra, according to reports. The group’s goal is to work on policies that will deal with how Libra is going to affect payments, monetary policy, regulation and taxes. He said he believes that Libra is “a big mistake.”.

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PYMNTS

MARCH 7, 2018

Ripple — the blockchain company whose technology powers the cryptocurrency XRP — has created a new payment app in which transactions are settled instantly. While many regulators around the world are banning cryptocurrency trading, Japan has embraced it.

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PYMNTS

JULY 23, 2019

The social media giant is now compelled to address a growing number of fabricated exchanges associated with its digital asset, The Washington Post reported on Tuesday (July 23). The fake communications reportedly feature Facebook’s logo, branding, photos of Mark Zuckerberg or Libra’s official marketing imagery.

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PYMNTS

MARCH 12, 2018

As cryptocurrencies fuel discussions on forums and news websites, a new version of a Thomson Reuters Corp tool will capture online chatter around bitcoin. According to Google’s data, searches for the term have plummeted by 80 percent since the cryptocurrency’s high in Dec. The recent declines also came as the U.S.

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PYMNTS

MARCH 8, 2018

The price of the marquee name in cryptocurrencies dipped as low as $9,450 in intraday trading when the Securities and Exchange Commission (SEC) announced there were “potentially unlawful” systems operating that allow the trading of cryptocurrencies. The cryptocurrency dropped to $189, which is the lowest it has been since Feb.

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PYMNTS

JULY 27, 2018

Securities and Exchange Commission earlier this week stood by its move to stop a bitcoin exchange-traded fund, citing “unpersuasive” arguments as to how the ETF would be protected from any market manipulation. Nor was the SEC convinced investors would be protected from manipulation in the underlying asset class.

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PYMNTS

JUNE 23, 2019

Overstock CEO Patrick Byrne said that he welcomes Facebook ’s entry into the cryptocurrency market. Byrne told CNN Business that the social media giant’s launch of its own digital currency validates the space — and Overstock would be open to partnering with Facebook on the project. I perpetrated a fraud.

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PYMNTS

APRIL 30, 2019

Billionaire Michael Novogratz’s cryptocurrency investment firm lost $272.7 While 2018 was a challenging year for the industry, I am pleased with the ways in which our team navigated difficult market dynamics, and believe we are well-positioned to scale our business strategically over time,” Novogratz said in a press release.

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PYMNTS

NOVEMBER 15, 2019

German cryptocurrency company Karatbars has been ordered to stop doing business after being accused of running a pyramid scheme. But in May, authorities in Namibia called Karatbar a pyramid scheme, while last month, Florida’s financial regulator denied that the company had been issued a banking license. And the U.S.

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PYMNTS

JANUARY 18, 2018

The looming specter of regulatory crackdowns in South Korea on bitcoin and other cryptocurrencies may leave one population collectively shrugging: crypto traders. Industry observers say that would-be traders may be turned off from entering the market domestically. It’s not that big of a problem.”.

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PYMNTS

AUGUST 6, 2018

Also, Facebook talks with banks about sharing data, Walmart enters a meal kit deal with Gobble , Starbucks clarifies its plans to emphasize no purchases with crypto and China blocks demonstrations related to the country’s P2P market. MoviePass Shelves Hike, But Limits Free Showings. Facebook Talks To Banks About Checking, Card Data.

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PYMNTS

MARCH 22, 2019

Much hype and hope surrounds the adoption of cryptocurrencies — bitcoin among them as the marquee name in the space, of course — beyond the Wild West of speculative trading that exists now. As noted just this week, Citigroup has decided that it will scrap its plans to bring a crypto to market after several years of trying.

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PYMNTS

JANUARY 31, 2018

For years, throughout the volatility of cryptocurrency values, some industry experts have assured investors and innovators that blockchain is the disruptor in which the market should place its faith. Blockchain isn’t un-hackable, and regulators have recently warned about the potential of fraudulent initial coin offerings (ICOs).

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CFPB Monitor

AUGUST 23, 2022

each of these companies made false representations—including on their websites and social media accounts—stating or suggesting that certain crypto–related products are FDIC–insured or that stocks held in brokerage accounts are FDIC–insured.” 1828(a)(4), and its implementing regulation, 12 C.F.R Part 328, Subpart B.

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers. If the U.S.

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Tomorrow's Transactions

OCTOBER 8, 2014

The Head of the Competition and Markets Authority says that competition in currency is “welcome”. Innotribe’s bitcoin series included talks on regulation, disruption and the future of investment in the space. Why is there only one Bank of England? Only one Pound Sterling and one interest rate throughout the UK?

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Gonzobanker

JANUARY 4, 2022

According to Terence Roche, partner at consulting firm Cornerstone Advisors , community-based financial institutions could: “Lower their NSF fee to the $5 to $7 range and market it as a convenience fee. consumers, 60% of crypto owners would use their bank to invest in cryptocurrencies. According to a Cornerstone Advisors survey of U.S.

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PYMNTS

JULY 15, 2019

That breach started a groundswell of bi-partisan support for fines, other penalties related to governance and personal liability of Facebook’s CEO, new regulations – and even the breakup of the company. Market pundits say Facebook’s uptick in stock price can be attributed to the fact that a big fine was already baked into that price.

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