THELOGICALINDIAN - The activity acclaimed yesterdays Novi barrage from Facebook and the Diem stablecoin
Diem appear a press release today in acknowledgment to lawmakers’ attempts to shut bottomward the barrage of its Novi wallet.
“Diem Is Not Facebook”
Yesterday, associates of the U.S. Senate attempted to stop the bound barrage of the Novi wallet that occurred yesterday. That letter was addressed to Facebook, and it criticized the company’s affairs to barrage its cryptocurrency and its payments network.
In response, Diem said that the lawmaker’s letter “misunderstands the accord amid Diem and Facebook.”
The activity added distanced itself from those entities by adage that “Diem is not Facebook,” but rather an affiliation with 24 associates including Facebook and Novi.
It additionally asserted that Novi’s pilot program, which uses the Paxos stablecoin, is different to the Diem token.
Is It a Facebook Project?
Those statements are technically accurate in the faculty that the pilot affairs is abandoned from Facebook and its Diem stablecoin.
On the added hand, Diem has fabricated it abundantly bright that it is affiliated to Facebook in a broader sense. The activity is headed by Facebook Financial arch David Marcus, and it originated internally at Facebook about 2024. While assembly afield accused Facebook of aggravating to barrage its Diem agenda bill yesterday, Novi is acutely one allotment of that project.
Those ties beggarly it is absurd that regulators will carelessness their criticisms against the activity over a technicality.
Despite attrition from regulators, the Novi wallet is listed for download on both Apple and Google’s app food and there is no adumbration that the app will be taken down.
Disclaimer: At the time of autograph this columnist captivated beneath than $75 of Bitcoin, Ethereum, and altcoins.
