India may issue a blanket ban on all cryptos, statements from top officials indicate. However, the government is drafting a new bill that would allow for the private use of cryptos. Just last week, the country introduced a Cryptocurrency and Regulation of Official Digital Currency Bill 2021. The bill spooked investors, as it was identical to the draft of the 2019 bill to ban crypto. The bill wrote that it intended to "create a facilitative framework" for India's official digital currency. To…
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…
12 months ago
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
