Many pieces of the Diem puzzle still missing as launch gets delayed
Besides securing approval from Swiss regulators, Diem seems likely to face opposition from government regulators in many countries. Back in June 2019, social media giant Facebook released the details for a much-talked-about digital currency platform dubbed “Libra.” These days, Libra is known as Diem, with the project undergoing a significant rebranding in a bid to smoothen regulatory wrinkles.A year and a half later, the Diem Association has yet to launch a digital token with regulatory approval from Swiss authorities yet to materialize. Even if Switzerland’s Financial Market Supervisory....
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Facebook-backed cryptocurrency project Diem, formerly Libra, is moving from Switzerland to the U.S. In collaboration with Silvergate Bank, the association, which oversees the development of the diem cryptocurrency, has unveiled a new launch plan. Facebook-Backed Stablecoin Has New Launch Plan The Diem Association announced Wednesday a partnership between Diem Networks U.S. and Silvergate Capital Corporation (NYSE: SI). Silvergate is a California state-chartered bank and a member of the Federal Reserve. Diem Networks U.S. is a wholly-owned subsidiary of the association. It plans to register....
The cryptocurrency proposed by social media giant Facebook is gearing up to launch using a “phased approach,” its co-creator explains. The Diem Association, which oversees the crypto’s development, has been in talks with regulators to obtain a license. Diem Updates Launch Plan The Facebook-backed cryptocurrency “diem,” formerly called libra, is taking a “phased approach” to launch, co-creator and chief economist of Diem, Christian Catalini, told CNBC in an interview published on Tuesday. The Switzerland-based nonprofit Diem Association, which....
During the last two years, there’s been a lot of interest in Facebook’s cryptocurrency diem (formally libra) and rumors of a nearing launch date went viral last November. Now the social media giant is advertising the crypto asset’s pre-sale heavily on the platform, as people can now purchase diem with U.S. dollars and three different cryptocurrencies. Facebook Is Selling Diem Coins for Bitcoin, Ethereum, and Bitcoin Cash Facebook is in the midst of the company’s token sale where individuals can invest funds in order to purchase the social media firm’s upcoming....
Kolin Burges asking Karpeles for his Bitcoin. "The Two-Bit-Idiot," who leaked the original document blowing the lid off MtGox, has declared via Tumblr to have "all of the pieces to the Mt. Gox puzzle," which depicts MtGox as having "acted alone and in desperation." The fact that MtGox had no buyers lined up to shoulder the burden of their mistakes demonstrates the degree to which MtGox and Mark Karpeles are even bigger frauds than many in the community (myself included) had anticipated. What is left to find out is when Karpeles knew his exchange had failed, and to what extent he went to....
Royal Bank of Scotland (RBS) recently admitted to have undergone a technology failure that obstructed around 600,000 payments from reaching their respective beneficiaries' accounts. The problem, which began to affect customers since early morning today, became apparent only when the RBC Twitter account tweeted: "Some customer payments are missing this morning - we are investigating this issue as a matter of urgency." The bank further advised the affected customers to contact its customer care services immediately. The word "missing" created a frenzy among the RBS customers, resulting into....