Steven Mnuchin

Facebook spoils the cryptocurrency party

Cryptocurrency in the spotlight
Illustration: Sarah Grillo/Axios

Thanks to Facebook entering the space, the grown-ups have come in to turn on the lights and throw cold water on the cryptocurrency party.

The big picture: Facebook's dive into cryptocurrency with its Libra project has put digital payments squarely in the bullseye of government regulators, just as Bitcoin and other cryptos had started to rebound in value.

Obama appointees say Trump administration didn't delay $20 redesign

Treasury Secretary Steve Mnuchin. Photo: Mark Wilson/Getty Images
Treasury Secretary Steve Mnuchin. Photo: Mark Wilson/Getty Images

The Trump administration's reported delay of a $20 bill redesign featuring 19th-century abolitionist Harriet Tubman actually aligns with internal timelines produced during the Obama administration, three current or former government officials appointed by President Obama told the Washington Post.

Driving the news: Larry R. Felix, the director of the Bureau of Engraving and Printing from 2006 to 2015, said the probability of releasing a concept design in 2020 had always been low due to security and fraud risks, despite then-Treasury Secretary Jack Lew's desire for an unveiling that coincided with the 100th anniversary of the 19th Amendment.