Search Results for: Facebook

Facebook’s Libra cryptocurrency gets revamp in response to backlash

April 22nd, 2020 (0)
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval. The prospect of Facebook’s 2.5 billion users adopting Libra has led to intense ...

Facebook ‘rethinks’ plans for Libra cryptocurrency

March 5th, 2020 (0)
Facebook is reportedly rethinking its plans for its own digital currency after resistance from regulators. It is now considering a system with digital versions of established currencies, including the dollar and the Euro, according to Bloomberg and tech site ...

Facebook’s transfer of EU citizen data to US legal, says EU court adviser

December 20th, 2019 (0)
Tools used by hundreds of thousands of companies to transfer EU citizens’ data abroad are legal, an adviser to Europe’s top court has ruled, marking a major win for Facebook in a long-running court case. Austrian privacy campaigner and ...

China prepares to launch its own digital currency as Facebook’s Libra languishes

November 13th, 2019 (0)
China is moving closer to releasing the world’s first government-backed digital currency. Li Wei, the head of technology for the People’s Bank of China, the central bank, said on Monday that commercial banks should increase their use of blockchain ...

Facebook to pay $5 billion over the company’s privacy policies

July 29th, 2019 (0)
The Federal Trade Commission approved a record $5 billion settlement Wednesday with Facebook over the company’s privacy policies. Shares of Facebook were down slightly following the announcement, but turned positive in the afternoon, up about 1.1% by the end ...

Dutch billionaire sues Facebook over fake Bitcoin ads

June 10th, 2019 (0)
Dutch billionaire businessman John de Mol filed a lawsuit against Facebook in an Amsterdam court on Wednesday, saying the social media giant had allowed fake ads on its platform using his name and image to perpetrate Bitcoin-related fraud. Lawyers ...

Wrong handling of user data may cost up to $5B for Facebook

April 25th, 2019 (0)
Facebook said Wednesday it expects to shell out between $3 billion and $5 billion to settle the FTC’s ongoing investigation into its handling of user data, foreshadowing a potentially massive penalty from the nation’s top consumer protection agency. The ...

Facebook gives lawmakers 450 pages of answers from April hearings

June 12th, 2018 (0)
Facebook Inc. turned in more than 450 pages of homework to U.S. lawmakers, defending itself against claims that it is a monopoly and sidestepping questions about the effectiveness of an app that can effectively spy on competitors. In documents ...

Facebook and Google accused of violating GDPR on first day of the new European Privacy Law

June 6th, 2018 (0)
When Mark Zuckerberg testified in front of members of the European Parliament, he insisted that Facebook was ready for Friday, the day when the European Unions’s strict new data privacy law went into effect. But users in Europe have ...

Facebook personal data use and privacy settings ruled illegal by German court

February 15th, 2018 (0)
Facebook’s default privacy settings and use of personal data are against German consumer law, according to a judgement handed down by a Berlin regional court. The court found that Facebook collects and uses personal data without providing enough information ...
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