LONDON: Backers of Facebook Inc’s Libra cryptocurrency project pledged to forge ahead after selecting a five-member board yesterday, shrugging off the latest member defection by online travel company Booking Holding earlier in the day.
Libra lost its last global payments backers on Friday, when Mastercard Inc and Visa Inc abandoned the Geneva-based Libra Association.The exodus followed warnings from politicians and regulators, from the United States to Europe, that Libra risked upsetting global financial stability, undermining users’ privacy and facilitating money laundering.
Most decisions will require a majority vote of the group’s governing council, although changes to membership or management of the reserve would require a two-third supermajority. Its only payments firm remaining is Netherlands-based PayU, which according to its website does not operate in the United States, Canada or large swaths of Africa and the Middle East.
France pledged last month to block Libra from operating in Europe, while the Bank of England laid out high hurdles it must meet before its launch.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MACC detains 2 RTM officers over false claims | The Malaysian InsightCase involves Selangor Tithes Board funds, says Latheefa Koya. OK, good. Glc's? Sarawak Taib?
Source: msianinsight - 🏆 8. / 63 Read more »
2 senior RTM officers held over false claimThe claim is in connection with a TV programme sponsored by the Selangor Tithes Board.
Source: fmtoday - 🏆 5. / 72 Read more »
Police counter-terror chief contradicts Guan Eng on further DAP arrests over LTTE links | Malay MailKUALA LUMPUR, Oct 13 — Deputy Comm Datuk Ayob Khan Mydin Pitchay clarified today he did not state that no other DAP leaders would be arrested on suspicion of links to the Liberation Tigers of Tamil Eelam (LTTE). Bukit Aman’s Special Branch Counter Terrorism Division (E8) chief said he was... Why use the draconian SOSMA on politicians? What happened to Pakatan GE14 manifesto to repeal these controversial legislations? if got evidence, then charge them in court. don't use sosma the way atok used isa to arrest opposition lawmakers.
Source: malaymail - 🏆 1. / 86 Read more »
PAS-Umno has no ideas, couldn't even do alternative budget, says Chin Tong | The Malaysian InsightPAS-Umno has no ideas, couldn't even do alternative budget, says Chin Tong Focus on development. Stop accusing others
Source: msianinsight - 🏆 8. / 63 Read more »
Anwar warns of Malay backlash in Penang reclamation project | The Malaysian InsightPKR leader denies wavering support for massive project, reports The Star.
Source: msianinsight - 🏆 8. / 63 Read more »
Attempts to split China risk shattered bodies, says XiChina president adds anyone who supports those attempting to split China is delusional. FMTNews China
Source: fmtoday - 🏆 5. / 72 Read more »