
Facebook-backed digital currency reboots
Facebook's global digital currency project is abandoning Switzerland as its hoped-for regulatory home and planning to launch a U.S.-based payment system.
Facebook's global digital currency project is abandoning Switzerland as its hoped-for regulatory home and planning to launch a U.S.-based payment system.
U.S. lawmakers grilled Facebook CEO Mark Zuckerberg on his plans to create a global digital currency and international organization to oversee it.
The Libra Association will apply for a payments license in Switzerland so Facebook's proposed cryptocurrency is subject to Swiss financial regulators.
The E.U.'s antitrust probe of the Libra project focuses on concerns it would improperly shut out rival payment systems.
The social network's proposed Libra cryptocurrency is to be managed by a new Libra Association in Geneva.