The Big Regulation Risks Posed By Facebook's Libra Coin
Law360, London (June 26, 2019, 8:55 PM BST) -- Facebook’s planned expansion into payments with the launch of its own digital currency has caused unease among financial regulators, ranging from concerns over economic crime risks and consumer protection to its potential to become a systemic threat to the integrity of financial markets.
The social media giant wants to launch Libra in 2020, allowing billions of Facebook’s users to make purchases and financial transactions around the world, potentially challenging the international banking system. But the initial reaction from regulators suggest this timing might be ambitious.
The coming regulatory approval process likely will be overshadowed by bitter memories of the role that...
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