European leaders step in to block Facebook’s digital currency

The US Treasury has designated China a currency manipulator following the devaluation of the yuan. According to the department, the yuan's steep drop gives China an unfair competitive advantage in international trade.

Facebook's Libra is reportedly being probed by the European Union's competition authorities. The cryptocurrency plan has been met with intense skepticism from both data protection activists and regulators.

President Mauricio Macri's government has imposed foreign-exchange controls on Argentine exporters. A week of financial uncertainty has led to a sharp drop in the value of the peso.

Argentina's spiraling peso rallied slightly after the country imposed capital controls. Despite government assurances, long lines formed outside banks with people worried about being able to withdraw their cash.

Libra: Are you ready to trust Facebook with your money?

Scepticism mounts over Facebook's Libra as Paypal abandons cryptocurrency

Facebook's Libra, billed as an alternative to traditional banking, has sparked concerns from central bankers and regulators around the world. The currency has been criticized as a threat to sovereignty and stability.

Facebook's founder faced an unfriendly bipartisan crowd during a House hearing. Representative Maxine Waters said the company's "existing deficiencies and failures" needed to be fixed before launching a cryptocurrency.

As Facebook faces scrutiny for its global digital coin project Libra, Binance is pushing ahead with its plans of creating a "regional" and "Belt and Road" version of Libra. Bloomberg's Selina Wang breaks down the differences between the two projects and speaks exclusively to Binance's Co-Founder Yi He.

Asia is bracing for the latest U.S. Treasury report on foreign currency manipulators, coming in the middle of a trade war that shows no sign of ending. The twice-yearly report is due in coming weeks and will likely see the return of Singapore, Malaysia and Vietnam on the watchlist. Nasreen Seria reports on "Bloomberg Markets: Asia."

Claudia Biancotti, a Visiting Fellow at Peterson Institute discusses Mark Zuckerberg's testimony to the U.S. House of Representatives on 'Bloomberg Markets.'

Richard Levin, Polsinelli chair of fintech and regulation practice, discusses regulation and Facebook’s Libra. He speaks with Bloomberg’s David Westin on “Balance of Power.”