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Massive Lawsuit Brought Against Consumer Financial Protection Bureau by PayPal

December 23, 2019
Technology is evolving at a rapid pace, especially for the financial industry. However, regulators seem unable to keep up with the changes, and PayPal is passionate about setting the story straight, if their recent lawsuit against the CFPB is any indication. PayPal says that the regulations implemented by the CFPB force them to make “misleading

Travala Partners Up with Booking.com as Crypto Payments for Traveling can Boost Adoption

December 5, 2019
The official website of Travala talks about the strategic partnership closed between the company and Booking.com. In order for the collaboration to be fruitful, Travala has integrated all the accommodation listings from Booking.com, which are available in more than 200 countries, at 100,000 different destinations. Travala is Known to Work with Digital Currencies Travala has adopted many

Zuckerberg: Facebook Would Leave Libra if It Launched Too Early

November 5, 2019
Facebook could withdraw from the Libra Association — the governing body of the eponymous stablecoin project — should it launch without approval from regulators in the United States. Libra could lose its primary member In a Congressional hearing on Oct. 23, Facebook CEO and founder Mark Zuckerberg reiterated the company’s commitment to not launch its

Facebook’s Calibra Digital Wallet Will Not Be Available in Its Largest Markets

July 1, 2019
Facebook’s Calibra digital wallet will not be available in some of the social network’s largest markets, including India, according to a TechCrunch report on June 19. A spokesperson told the website: “The libra blockchain will be global, but it will be up to custodial wallet providers to determine where they will and will not operate. Calibra won’t be available in U.S.-sanctioned countries or countries

Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project

June 21, 2019
Facebook has reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project, the Financial Times reports on June 14. Per the report, Facebook hired the senior bank lobbyist in anticipation of the greater regulatory scrutiny in Europe over its plans to launch its own crypto asset and other financial services to its 2.4 billion users. Bowles will join the

PayPal Invests in Blockchain Startup

April 11, 2019
What is apparently a first for the online payments company, PayPal, the firm has made an investment in Cambridge Blockchain, a startup that utilizes technology to allow users to have more control over digital identity. The investment from PayPal is part of an extension that was part of a Series A funding for the startup.