Facebook’s digital currency Libra was first announced earlier this year. Photo: Reuters

Facebook's new cryptocurrency Libra faces US government backlash

  • Congress begins two days of hearings on Tuesday on the currency planned by Facebook, starting with the Senate Banking Committee
  • Meanwhile, a house judiciary subcommittee will extend its bipartisan investigation of the market power of Facebook, Google, Amazon and Apple
Topic |   Facebook

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Facebook’s digital currency Libra was first announced earlier this year. Photo: Reuters
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Zhou Xiaochuan served as the governor of the People’s Bank of China (PBOC) for over 15 years until 2018. Photo: EPA

China’s response to Facebook’s Libra could be ‘Hong Kong style’ cryptocurrency, says ex-central bank governor

  • Former People’s Bank of China governor Zhou Xiaochuan suggests Beijing could delegate issuance of digital currency to commercial entities
  • Speech in Beijing this week shows that China is rethinking its digital currency strategy
Topic |   Facebook Libra

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Zhou Xiaochuan served as the governor of the People’s Bank of China (PBOC) for over 15 years until 2018. Photo: EPA
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