Libra cryptocurrency

Facebook's Libra has been rebranded in an effort to gain regulatory approval by stressing project’s independence

The G20’s Financial Stability Board set out 10 recommendations for an international approach to regulating stablecoins

The project has been met with fierce resistance from officials

Facebook to reveal details about its plans for a global cryptocurrency called Libra

The social media giant is facing growing scepticism about its digital currency project Libra

Cryptocurrencies could also hinder cross-border efforts to fight money laundering and terror financing

Facebook’s ambitious efforts to establish a global digital currency called Libra suffered severe setbacks

Membership departures came after US senators sent letters to several financial firms

Major payment companies including Mastercard and Visa quit the group behind the project

Facebook-backed cryptocurrency Libra are having second thoughts as regulators unleash ire on the project

Expected to launch in the first half of 2020, Libra is designed to be backed by basket of currency assets