Facebook’s Libra Pushed World to Reconsider USD as Global Reserve Currency: WEF

Major global economists credit Facebook’s Libra with pushing the world to start reconsidering the United States dollar as anchor currency.

At a Jan. 23 panel at the annual World Economic Forum (WEF) in Davos, officials and financial experts discussed one of the most important mechanisms in the global financing system — the U.S.

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Reserve Bank of India Urges Supreme Court to Regulate Crypto

India’s central bank, the Reserve Bank of India (RBI), has urged the country’s Supreme Court to regulate cryptocurrencies, local news outlet the Financial Express reports July 21.

In April of this year, the RBI announced it will stop providing services to businesses or persons dealing with cryptocurrencies, citing high risks.

The RBI’s senior advocate Shyam Divan told a bench led by Chief Justice Dipak Misra that it is necessary to regulate Bitcoin (BTC) and other cryptocurrencies since these “particular means” will “encourage illegal transactions.”

Divan also pointed out that the issue has “immense policy dimensions,” attesting that crypto has the potential to impact global money flows.

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