Facebook (NASDAQ:FB) warns investors that the Libra stablecoin may never launchThe Libra storyline is fast becoming a never-ending soap opera — and we might be reaching the season finale. Facebook used its latest quarterly report to warn investors that its controversial cryptocurrency may never launch at all. The admission at least shows that the social network is taking the concerns of regulators and policymakers to heart. Although the company still expects Libra to be released in 2020 (for now), it looks like Facebook is laying the groundwork for a U-turn, if need be. Who knows what next week’s installment will have in store…
Some senators call on U.S. to lead in blockchain and crypto, others doubtWhen David Marcus, head of Facebook’s Calibra wallet, appeared in front of Congress last month, he had one warning for U.S. lawmakers: Lead the way on digital currencies, or another nation will. With those words ringing in their ears, some politicians seem to have taken notice. At a hearing of the U.S. Committee on Banking, Housing and Urban Affairs, Sen. Michael Crapo of Idaho broke rank with some of his colleagues. He said he wanted the U.S. to be at the forefront of cryptocurrencies and blockchain, adding the technology “both has incredible potential and incredible risk.” A fellow senator concurred — fearful China might end up getting an upper hand in this fast-moving industry.
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