European bank authorities want oversight over Facebook’s new cryptocurrency

//European bank authorities want oversight over Facebook’s new cryptocurrency

European bank authorities want oversight over Facebook’s new cryptocurrency

Banking regulators in Europe say they want oversight over Libra, the new cryptocurrency from Facebook that could become the world’s first widely used digital currency, popular with hundreds of millions of people living in developing countries. The central banks of Britain, France and Germany said they’ll examine whether Libra threatens the traditional banking industry, and whether it has the safeguards in place to prevent money laundering and other illegal activity, Reuters reports. “We,…

Article by [author-name] (c) Banking & Financial News - Banking & Financial News Headlines | Bizjournals.com - Read full story here.

By | 2019-06-21T13:32:31+00:00 June 21st, 2019|Economics|

About the Author: