Facebook’s Libra rebrands as Diem

Facebook continues its push for regulatory approval, changing the name of it’s proprietary cryptocurrency to Diem. About a one minute read.

Comment: increasingly this appears to be a failed effort by Facebook. As reported here on Fintech Flashnews, one or more Central Bank Digital Currencies will likely be launched by G10 nations in 2021, raising the obvious question: why does anyone need a proprietary cryptocurrency? And why would regulators allow it? Facebook doesn’t get it: they won’t.