The Next Web: Facebook should stop trying to disrupt payments with Libra and focus on repair

The Next Web: Facebook should stop trying to disrupt payments with Libra and focus on repair. “When companies attempt to enter new highly regulated markets, regulators typically look at the company’s intentions and previous compliance. Facebook has a long history of willful neglect of their consumers’ privacy, as evidenced by numerous disclosures, including a document seizure by the United Kingdom’s parliament.”

Brookings Institution: How should governments respond to Facebook’s Libra initiative?

The Brookings Institution: How should governments respond to Facebook’s Libra initiative?. “How governments should respond to Libra depends on how the company integrates the cryptocurrency into their larger business. We envision Libra being integrated into the company’s broader business model as a basis for offering financial services, or possibly an even broader set of services. Given the increasing social and economic power of large tech firms, governments should proactively start thinking of how to respond to these firms’ entrance into new industries.”

BetaNews: Banking malware grows as cryptominers decline

BetaNews: Banking malware grows as cryptominers decline. “The latest mid-year Cyber Attack Trends Report from Check Point shows mobile banking malware attacks are up 50 percent compared to the first half of 2018, while the number of organizations hit by cryptominers is down to 26 percent, from 41 percent last year.”

CNET: Fake Facebook accounts are already reportedly offering Libra cryptocurrency

CNET: Fake Facebook accounts are already reportedly offering Libra cryptocurrency. “Facebook is already struggling with multiple fake accounts on its own social media platforms that are offering its newly announced cryptocurrency, Libra, The Washington Post reported Monday. Libra isn’t set to launch until the first half of next year, but around a dozen accounts, groups and pages are already on Facebook and Instagram, the report said.”

Ars Technica: Facebook is backpedaling from its ambitious vision for Libra

Ars Technica: Facebook is backpedaling from its ambitious vision for Libra. “David Marcus, the head of Facebook’s new Calibra payments division, appeared before two hostile congressional committees this week with a simple message: Facebook knows policymakers are concerned about Libra, and Facebook won’t move forward with the project until their concerns are addressed.”

The Hill: Senators unload on Facebook cryptocurrency at hearing

The Hill: Senators unload on Facebook cryptocurrency at hearing. “Facebook on Tuesday sought to defend its plans for a new global cryptocurrency at a contentious hearing as lawmakers aggressively blasted the project and questioned whether the embattled company should be in charge of launching such an ambitious venture.”

Bloomberg: Facebook Says Libra Won’t Launch Until Regulators Satisfied

Bloomberg: Facebook Says Libra Won’t Launch Until Regulators Satisfied. “Facebook Inc. won’t launch Libra, the controversial cryptocurrency it’s planning to build with dozens of partner firms, until regulators’ concerns are fully addressed, according to the company’s top executive on the project.”