New Facebook Currency Faces Heavy Global Regulation: BoE
Law360, London (June 21, 2019, 5:59 PM BST) -- The head of the Bank of England has welcomed Facebook’s new global currency but warned Thursday evening the social media giant’s planned digital asset could face heavy regulation to protect the financial system and ward against data privacy and money laundering risks.
In a speech to senior political and financial market figures, BoE Governor Mark Carney said England’s central bank is approaching Libra, Facebook’s new digital token, with an “open mind but not an open door.”
Carney said the proposed new currency and payment system could not expect to benefit from reactive standards applied to social media platforms that are “debated...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!