Libra Still Faces Uphill Battle Despite Softened Swiss Stance

A Swiss government memo appears to show a softening in the nation’s stance towards Libra, the proposed digital coin led by Facebook (NASDAQ:FB), just weeks after its former president described the project as a failure. The memo, seen by Bloomberg, shows the Swiss government refusing to rule out the possibility that Libra may one day be granted regulatory approval in Switzerland, despite major reservations being held by EU regulators. Government officials will continue to monitor the progress of the project, paying particular attention to “the form which Libra may take…

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China Appears to Soften Its Stance Regarding Cryptocurrency

In an unexpected move, a major Chinese state bank has posted what appears to be a positive infographic on its website detailing the history of Bitcoin and some basic cryptocurrency concepts. The infographic notes the impressive gains that Bitcoin has benefitted from recently and appears to address the relevance of cryptocurrency in today’s world. Trading of Bitcoin and cryptocurrencies in China has been illegal since the country banned Bitcoin exchanges back in 2017. While the ban forced some exchanges to move their operations to other countries, it is believed that…

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