puts

Facebook puts global block on Brazil’s Bolsonaro supporters

BRASILIA (Reuters) – Facebook (FB.O) said on Saturday it has put a global block on certain accounts controlled by supporters of Brazil’s President Jair Bolsonaro implicated in a fake news inquiry, a day after it was fined for not complying with a Supreme Court judge’s order to do so.

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration

A spokesperson for Facebook said the order was “extreme” and threatens “freedom of expression outside of Brazil’s jurisdiction”, but said the company has agreed to the order.

“Given the threat of criminal liability to a local employee, at this point we see no other alternative than complying with the decision by blocking the accounts globally, while we appeal to the Supreme Court,” the spokesperson said.

Justice Alexandre de Moraes had ruled on Thursday that Facebook and Twitter (

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Japan puts central bank digital currencies on policy roadmap

TOKYO (Reuters) – Japan will look closer into whether to issue central bank digital currencies (CBDCs), the government said in its annual policy roadmap, a sign that Tokyo may be warming to the idea as the coronavirus heightens demand for cashless payments.

In its first-ever reference to digital currency in the annual plan, the government urged the Bank of Japan (BOJ) to liaise with other countries to jointly examine its feasibility.

“The BOJ will coordinate with other countries to consider CBDCs by examining and verifying technological tests,” according to the document, which serves as guidance for the government’s long-term economic and fiscal policies.

Facebook’s (FB.O) efforts to launch its Libra cryptocurrency stablecoin have forced central banks to look more seriously into issuing their own digital currencies.

China has been among countries leading in the drive toward issuing CBDCs, prompting some Japanese ruling party lawmakers to urge Tokyo to

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Wirecard collapse puts German watchdog in EU crosshairs

BRUSSELS/LONDON (Reuters) – The European Commission in a rare move has asked its markets watchdog to investigate German financial regulator BaFin over the collapse of payments company Wirecard .

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder

The company’s implosion on Thursday owing creditors almost $4 billion is shaping up to be one of Germany’s biggest corporate scandals.

The financial technology company, which disclosed a gaping $2.1 billion hole in its books, is the first member of the DAX stock index to go bust, barely two years after winning a spot among Germany’s top 30 listed companies.

Wirecard’s long-time auditor, EY, said the hole in the company’s books was the result of a sophisticated global fraud.

The EU executive said in a letter to the European

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Singapore’s Grab puts partnership with troubled Wirecard on hold

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, is seen in Aschheim near Munich, Germany, April 25, 2019. REUTERS/Michael Dalder

SINGAPORE (Reuters) – Southeast Asian ride-hailing and payments company Grab said it had put a partnership with scandal-hit Wirecard on hold, days after the German payments firm disclosed a $2.1 billion financial hole that threatens its future.

“We have not begun business integration work on the Wirecard partnership and we are pausing the partnership till further notice,” a spokeswoman from Grab told Reuters on Wednesday in response to a query about the status of the partnership.

The two companies had struck a payments agreement in March under which Wirecard was to process transactions made via the GrabPay e-wallet, starting with markets in Malaysia, Philippines and Singapore.

Wirecard had not begun processing payments or signing up merchants on behalf

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