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.”
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.”
BBC: Will Facebook’s digital money Libra be good for Africa?. “As a Zimbabwean living in South Africa, I have become numb to the daylight robbery that ensues whenever I receive money from abroad or send cash to my family back home. As such, like many other cautious pragmatists, I relish the prospect of a network like Libra permanently disrupting the lucrative cash remittance businesses of large banks and money transfer services like Western Union and MoneyGram.”
The Zimbabwe Mail: Zimbabwe gov goes after black market blog websites and social media platforms. “The embattled micro-blog platform Market Watch Zimbabwe, rub by street black market money changing operatives who call themselves independent analysts focused on research into the Zimbabwean parallel markets as well as the stock market has suspended services after the government allegedly threatened them. It is understood that the there are multiple websites and social media platforms run by big street money changers and Market Watch and ZimBollar research institute are said to be on Zimbabwe government radar for causing mayhem to the currency market.”
The Hill: Understanding what Facebook’s Libra is — and what it isn’t. “When Facebook announced its own blockchain and cryptocurrency (both referred to as ‘Libra’), everyone from late-night comedy hosts to mainstream media outlets to regulators offered possible interpretations, implications, use cases and reasons for both encouragement and prohibition. In order to determine the usefulness (or lack thereof) of Libra, it is helpful to quickly demystify what these things are. After all, Facebook claims Libra ‘will enable a simple global currency and financial infrastructure that empowers billions of people.’ That is quite the goal.
TechCrunch: Facebook plans June 18th cryptocurrency debut. Here’s what we know. “Facebook is finally ready to reveal details about its cryptocurrency codenamed Libra. It’s currently scheduled for a June 18th release of a white paper explaining its cryptocurrency’s basics, according to a source who says multiple investors briefed on the project by Facebook were told that date.”
The Register: Google sparks online outcry after its currency converter goes haywire for third time this year . “The online ad giant has expressed its regret to the government of Ghana for a software bug that made it appear last week that the country’s cedi currency had collapsed.”