Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Crypto News
  • Libra Association Rebrands Itself to Avoid Regulatory Pressure
  • Crypto News
  • Crypto Token

Libra Association Rebrands Itself to Avoid Regulatory Pressure

Giovanni Hernandez December 2, 2020 2 min read

Libra Association decides to rebrands itself into Diem Association after getting a severe reaction from the US regulators. The main goal of rebranding the project is to get a favorable attitude from the regulatory authorities.

Diem Association

On December 1, the crypto project led by the social giant Facebook announces to change its name to Diem Association from Libra Association. The name “Diem” belongs to the Latin language that means “day.” According to the official press release:

“Now transitioning to the name ‘Diem’, which denotes a new day for the project, the Diem Association will continue to pursue a mission of building a safe, secure and compliant payment system that empowers people and businesses around the world.”

With a back of 27 companies and firms around the world, it has also made significant changes in the leadership of the Diem Association. As per the new changes, Stuart Levey will serve as a chief executive while Sterling Daines has become the Chief Compliance Officer of the Association. The seats of MD and Chief Financial Officer will be fulfilled by James Emmett and Ian Jenkins, respectively.

According to market observers, it is Facebook who is stopping the crypto project from execution because the US government authorities do not want Facebook to lead the crypto project. This is because it can challenge the supremacy of the US dollar at a global level that may pose a serious threat to the US economy. Some members of the European Commission have also opposed the idea of a stablecoin project from a giant institution known as Facebook.

Even some prominent personalities in the crypto space have rejected the idea of Facebook-led crypto project as it may challenge the decentralized nature of cryptocurrency and undermine its status as a decentralized currency with no manipulation at all.

After rebranding into Diem Association, it wants a fresh start with no pressure from the regulatory institutions.

Recently, the Association has announced that it would launch the US dollar-pegged stablecoin by the start of the new year. It is launching stablecoin that will be backed only by one fiat currency. However, in the start, it announced to roll out a stablecoin pegged by a basket of fiat currencies but the plan has now rescheduled due to regulatory uncertainty around the project.

The new name also represents the independent nature of the product. “We are excited to introduce Diem — a new name that signals the project’s growing maturity and independence,” said Diem Association CEO Stuart Levey.

Post Views: 540

Continue Reading

Previous: Chinese Authorities Sentenced PlusToken’s Scammers for 11 Years along with Heavy Fines
Next: Blackrock CEO Larry Fink Changes Stance On Bitcoin

Related Stories

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement
2 min read
  • Crypto News
  • Price Analysis
  • Trading

Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

August 2, 2022
Coinbase Obtains Operational License In Italy
3 min read
  • Crypto News
  • Cryptocurrency Exchange / Crypto Wallet

Coinbase Obtains Operational License In Italy

August 1, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,871.00
2.35%
ethereum
Ethereum (ETH)
$1,780.13
4.00%
tether
Tether (USDT)
$1.00
0.04%
usd-coin
USD Coin (USDC)
$1.00
0.17%
binancecoin
BNB (BNB)
$324.70
-0.41%
ripple
XRP (XRP)
$0.377749
1.00%
cardano
Cardano (ADA)
$0.53
0.22%
polkadot
Polkadot (DOT)
$9.21
4.70%
dogecoin
Dogecoin (DOGE)
$0.070791
1.15%
Uniswap
Uniswap (UNI)
$8.82
-0.56%

Recent Posts

  • Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Hodlnaut has announced that it has frozen its services for the users. The firm made an official announcement
  • Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Lido DAO (LDO) has proven to be one of the top performers in the cryptocurrency industry in the
  • CTproz Review – A Recommended Crypto Broker

    CTproz Review – A Recommended Crypto Broker

    CTproz Review The number of people engaging in online trading continues to rise, and if you don’t want
  • Coinbase Obtains Operational License In Italy

    Coinbase Obtains Operational License In Italy

    One of the top crypto exchanges in the market, Coinbase recently achieved yet another milestone, as it was
  • Central Bank Of Honduras Warns About Crypto Dangers

    Central Bank Of Honduras Warns About Crypto Dangers

    A release was recently published by the Central Bank of Honduras that is aimed at clarifying the institution’s

Start Trading

Categories

Top Posts

  • Grayscale to Integrate LINK, BAT, and Four Other Digital Asset Trusts

    Grayscale to Integrate LINK, BAT, and Four Other Digital Asset Trusts

    Grayscale may be on track to incorporate more digital assets. Though the company has not been explicit on
  • Quick Guide to Acquiring Cryptocurrency in Germany

    Quick Guide to Acquiring Cryptocurrency in Germany

    Cryptocurrencies have taken the world by a storm and are wreaking havoc across the financial industry. No one
  • Joint Asian CBDC Are Presently In The Works

    Joint Asian CBDC Are Presently In The Works

    One thing that has surfaced over the last couple of years is several regulators across different countries trying
  • Ascendex Breached & Hackers Stole Over $77 Million in Crypto Funds

    Ascendex Breached & Hackers Stole Over $77 Million in Crypto Funds

    Luck was not on the side of Ascendex when a security breach happened to grant an open playing
  • Experts Say Ethereum Is Not Going To Hold Its Leadership In DeFi Due To Its Problems

    Experts Say Ethereum Is Not Going To Hold Its Leadership In DeFi Due To Its Problems

    The debate regarding the feasibility of utilizing Ethereum to be the crypto-verse Army is regaining attention as the

Archives

You may have missed

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement
2 min read
  • Crypto News
  • Price Analysis
  • Trading

Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

August 2, 2022
CTproz Review – A Recommended Crypto Broker
3 min read
  • Brokers
  • Reviews

CTproz Review – A Recommended Crypto Broker

August 1, 2022
Coinbase Obtains Operational License In Italy
3 min read
  • Crypto News
  • Cryptocurrency Exchange / Crypto Wallet

Coinbase Obtains Operational License In Italy

August 1, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$23,871.002.35%
  • ethereumEthereum(ETH)$1,780.134.00%
  • tetherTether(USDT)$1.000.04%
  • usd-coinUSD Coin(USDC)$1.000.17%
  • binancecoinBNB(BNB)$324.70-0.41%
  • rippleXRP(XRP)$0.3777491.00%
  • cardanoCardano(ADA)$0.530.22%
  • SolanaSolana(SOL)$42.501.16%
  • polkadotPolkadot(DOT)$9.214.70%
  • dogecoinDogecoin(DOGE)$0.0707911.15%
  • UniswapUniswap(UNI)$8.82-0.56%
  • bitcoin-cashBitcoin Cash(BCH)$144.181.69%