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Facebook reconsiders Libra cryptocurrency plans; Project will government-backed currencies like the US dollar and Euro

Mar 04, 2020 - The Independent UK

Facebook is reportedly shifting its plans to launch a new digital currency following widespread criticism of its Libracryptocurrency project.

The technology giant will now open the payments network to support digital versions of existing currencies, such as the US dollar, Euro and pound sterling.

Since announcing the project in June last year, Facebook has faced significant pushback from global regulators.

Its ambition to create a global currency that could be received, stored ...