Facebook: Libra’s backworking finally revealed

Facebook's cryptocurrency Libra hasn't exactly had a good start, with critics pummeling it from all sides since its revealing in June. But the company (and its Libra partners, which have mostly remained silent since the launch) trudges on. Head of Calibra (the wallet for Libra) David Marcus took to Twitter to debunk the notion that Libra threatens the monetary sovereignty of nations. German outlet Der Spiegel revealed (via Reuters) that Libra would be backed by a basket of currencies consisting of the U.S. dollar, Euro, Japan yen, British pound, and Singapore dollar. Notably, China's yuan is absent, which addresses concerns of some U.S. politicians who worry that yuan is becoming too strong a reserve currency.


Instagram: Diet and cosmetic surgery posts have numbered days

Facebook announced that it is changing its policy around posts that peddle diet products and monetarily promote cosmetic surgery. It will age-gate content that sells these products, making them invisible to anyone under 18. It will also outright ban posts that make "miraculous claims" about diet products with links or codes to buy. What's more, Facebook and Instagram won't be directly going after these posts. Instead, they will only age-gate or remove the posts after users report them – likely once plenty of susceptible users or minors have seen them. "We will remove or restrict content if it breaks our Community Guidelines, once reported to us by the community," a Facebook spokesperson clarified.

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