German Finance Minister: Facebook Shouldn’t Be Allowed to Compete with the Euro

German finance minister Olaf Scholz has officially joined the media fracas surrounding Facebook’s cryptocurrency efforts, according to a Reuters report. Echoing other public officials who have struck critical tones in recent days, Scholz called upon regulators to examine the social media company’s Libra project. Scholz reportedly raised concerns about consumer Read more…

‘I Like Bitcoin’ Not Facebook Libra, House Rep. Kevin McCarthy Admits

US House Representative Kevin McCarthy said he likes bitcoin because of its decentralized nature and security. The minority leader praised the cryptocurrency’s underlying blockchain ledger technology for protecting users’ privacy, a feature that is otherwise missing across centrally-controlled financial services. For the same reasons, he criticized Facebook’s upcoming cryptocurrency project Calibra Read more…