To print this article, all you need is to be registered or login on Mondaq.com.
The Libra Association's new white
paper contains radical changes in how the proposed Libra
payments system will function. As I discuss in the video below, the
new proposal is arguably less ambitious than the one they
circulated last June, which was excoriated by politicians,
regulators . . . and thousands of angry bloggers posting from their
basements. The new proposal is aimed at satisfying the politicians
and regulators, but will leave the bloggers angry.
The heart of Libra's new proposal is 4 key changes:
Offering single-currency stablecoins in addition to the
multi-currency coin.
Enhancing the safety of the Libra payment system with a robust
compliance framework.
Forgoing the future transition to a permissionless system while
maintaining its key economic properties.
Building strong protections into the design of the Libra
Reserve.
Check out my video to hear my thoughts on each of these changes
and the takeaways for FinTechs!
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
Virtual Currencies Comparative Guide for the jurisdiction of United States, check out our comparative guides section to compare across multiple countries
As hard as it is to believe, we are already more than a month into 2021 – and our Data Privacy & Cybersecurity Team is well on its way to managing over 2,000 data security incidents this year.
On January 12, 2021, the FDA issued its long-awaited action plan concerning the regulation of artificial intelligence (AI) and machine learning (ML)-based Software As a Medical Device (SaMD).
The Office of the Comptroller of the Currency's recent interpretative letter focuses on how national banks can participate in independent node verification networks and use cryptocurrency...
Artificial intelligence continues to be a focus and concern for businesses, regulators, and lawmakers alike. As we recently wrote, there was much activity ...
FREE News Alerts
Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email.
