Failure to Launch? Regulators Say Facebook's Libra Hasn't Answered Their Concerns
Regardless of geography and even politics, regulators are united on at least one topic: Facebook's Libra cryptocurrency needs to provide more details.
September 23, 2019 at 12:30 PM
3 minute read
Facebook Inc.'s cryptocurrency ambitions may be stalled by international regulators' lingering consumer protection and financial sovereignty skepticism.
On Sept. 13, France and Germany issued a rare joint financial statement where the two countries reiterated that the challenges around cryptocurrencies and "so-called stable coin[s]" include financial security, investor protection, money laundering and terrorism financing, data protection and financial and monetary sovereignty. The statement added that Facebook's Libra blueprint "fails to convince that those risks will be properly addressed."
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