Libra Association recently submitted the request to FINMA asking to clarify the regulatory status of the Libra Association and Facebook’s cryptocurrency Libra Coin. FINMA today confirmed the receipt of an inquiry from the Libra association and in a press release has provided their indicative classification for the project. FINMA says...
The Information and data privacy authorities from Australia, UK, Canada, U.S., and the European Union have issued a joint statement expressing concerns about the privacy risks posed by the Facebook blockchain project – Libra digital currency and infrastructure. Source: OAIC media release statement Given Facebook Inc involvement in the past...
Digital wallets are scaling quickly than traditional banks. It is believed that digital wallets could upend traditional banks within 5 to 7 years. Traditional banks reliance on physical infrastructure which builds customer acquisition costs to $350-$1,500 per person. In comparison, digital wallets can acquire customers at just $20 per person,...
