Libra

The Republic of India, the seventh-biggest nation by area geographically located in South Asia, has shown much disbelief in the new cryptocurrency owned by Facebook known as Libra aka GlobalCoin. In fact, the coin will not be allowed to operate in the country.

The banking industry is worried by Facebook’s announcement about issuing their own cryptocurrency last month. France is going to establish a G7 task force to study how banks can ensure regulations of such digital currency to  prevent its usage for money laundering and other illegal activities.

Google has ordered advertising of the Facebook brand on Coinidol.com, one of the world’s leading cryptocurrency news magazines, despite Facebook’s ban of most cryptocurrency advertising since January 2018. This move is evidence that Facebook is looking for support from the world crypto community to gain trust in its new cryptocurrency FaceCoin (allegedly named Libra or GlobalCoin), that is announced to be issued in Q1 2020.

Recently, we brought you the news about Facebook launching its own cryptocurrency, allegedly called Libra, by next year – others call it GlobalCoin. The news attracted the attention of some big names in the finance industry to come and support this disruptive initiative. Some of the giant companies willing and able to invest in the project include PayPal, Uber, Visa and MasterCard, and many other forward-thinking individuals are also interested. The official announcement from Facebook is expected soon. Facebook is expected to launch a whitepaper for its coin on June 18.

PwC, one of Australia's leading professional services firms, has announced the launch of a new fintech capability called 'Vulcan Digital Asset Services' to enable digital assets to be used for everyday banking, commerce and other personal currency and asset related services.