Portugal’s parliament, Assembleia da República, has rejected two bills that sought to tax cryptocurrencies. Livre and Bloco, two Portuguese left-wing parties, proposed the bills. However, both parties had little representation in Congress. The ruling Socialist Party, which holds the majority of seats in the legislative assembly, has not yet submitted any bill. This news comes on the heels of Portugal’s Minister of Finance, Fernando Medina, announcing that cryptos will be subject to taxation soon. Explaining the need for crypto taxation,…
Tag: Libra Association
Facebook Renames Libra to “Diem” Ahead of 2021 Launch
Libra Association, the organization in charge of Facebook's cryptocurrency project, has rebranded the stablecoin again, ahead of the anticipated launch next year. The move is to ensure that the project meets regulators' criteria in Q1 2021. A New Days For Facebook's Crypto According to the changes revealed today, the project will now be called Diem, a Latin term for "day" because the Association believes it is a "new day" for the project. Announced in June 2019, the Libra project has…
1 year ago 
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Facebook’s Libra Project Plans Have Been Scaled
Facebook announced its Libra project in June 2019 with the plan to release it this year. Nevertheless, the stablecoin project was heavily criticized. As the criticisms continue, Facebook has been unable to provide any updates for months. Yesterday, it announced remarkable changes to scale back its global payment system. The most remarkable of the changes is a shift from the creation of an open international financial network to instead offer both single-currency and multi-currency coins to be tied to local currencies. Part of the…
2 years ago 225
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