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The Libra Association has changed its name to the Diem Association to reinforce "its organisational independence" as the cryptocurrency could launch as early as January.
It seems as if the Libra Association has ramped up its efforts to get Libra off the launchpad. However, now the European Central Bank has published a research paper warning that stablecoins like Libra could badly impact the markets.
After months of speculation, governmental hearings and partners abandoning the project, it seems as if the Facebook-led cryptocurrency Libra has taken a big step towards being recognised by regulators.
Could a digital euro be a better alternative to Libra? A leading group of German banks thinks so.
Mark Zuckerberg’s legal woes do not seem limited to getting regulators to approve of Libra, but now Facebook is facing accusations of discriminating against women and old consumers.
Things are not looking stellar for Libra as several backers have pulled out of the cryptocurrency project as the regulatory pressure against it is mounting.
Benoît Cœuré, executive board member of the European Central Bank, has told the German Bundestag that stablecoins like Facebook’s Libra initiative come with both risks and opportunities.