What is Novi?   Facebook has renamed its digital wallet, Calibra, as Novi. Calibra was the digital wallet that the social media giant has been building to access Libra digital currencies.      In a blog post, the company explained that the new name was inspired by the Latin words “novus” and “via,” meaning “new” and “way.” The digital wallet company, a subsidiary under Facebook will now be named Novi Financial.   As previously reported by Blockchain.News, Libra has abandoned its original plan of a widely accessible permissionless digital currency aimed to solve financial inclusion issues, due to ongoing regulatory backlash.    Libra was seen as a controversial project, especially in the eyes of regulators. Libra has then applied for a payment system license from the Swiss Financial Market...

Argentina’s Financial Information Unit (FIU) has ordered stricter controls and monitoring into cryptocurrency transactions in the country to eradicate money laundering and other illicit activities.      Argentine newspaper El Cronista reported that the FIU, a government agency that is responsible for enforcing anti-money laundering laws and compliance, is looking to tighten its controls on cryptocurrency trading.    President of the Financial Information Unit, Carlos Alberto Cruz said, “In recent times, we have seen an increase in operations carried out through virtual assets.” He added that these transactions could be “carried out by people who intend to circumvent international standards and avoid the anti-money laundering system.”   The announcement by the FIU comes at a time when Arge...

Crypto businesses may soon be offered a regulated path to legalization in the state of Louisiana. The state of Louisiana may soon pass a bill, that was filed earlier this year and will allow crypto-businesses to operate legally under a state license. The proposed bill has been backed by Louisiana state representative Mark Weight. Should the bill be passed, the state would have a regulated crypto framework to operate within and would provide an official definition of traditionally ambiguous cryptocurrency-related terms. Unanimous Approval The crypto-license bill was unanimously approved in Louisiana’s House of Representatives last week. A positive sign for potential cryptocurrency providers, but it will now have to pass through the State Senate, and then to the Committee on Commerce, Consu...