Such a sweeping proposal would likely spark opposition from Republican members of the house who are keen on innovation, and would likely struggle to gather enough votes to pass the lower chamber
Libra, which is widely regarded as a challenger to dominant global player Bitcoin, is expected to launch in the first half of 2020
Cryptocurrency has flourished since Bitcoin launched in 2009. But when Facebook unveiled plans last month for its own virtual currency, Libra, the announcement rattled financial regulators
On Wednesday, the chair of the Federal Reserve, Jerome Powell, said Libra raised a host of "serious concerns" around "money laundering, consumer protection and financial stability"
Book review of The Bitcoin Saga: A Mixed Montage
Facebook's plan for a digital currency called Libra has policy makers scrambling. The UK's three main financial regulators are working together on how best to respond
Central banks will have to respond to Facebook's Libra
The news comes after Facebook Inc. earlier this month unveiled plans to create a cryptocurrency it expects will one day trade much like the dollar
The key to getting the consumers and merchants to use the digital currency will be incentives
Bitcoin last traded up 14.7% at $13,475
The world's biggest social network is expected to outline details of a virtual currency launching next year
The future of money is in play and Silicon Valley technocrats have just made a compelling move
Bitcoin reached an all-time high of $19,511 in December 2017, capping a 1,400% surge that year, only to be followed by a 74% collapse in 2018
RBI should stay firm in not allowing it in India
Here's what Bloomberg reporters and editors know about Libra, along with key unknowns that remain