RATE Group | Facebook’s digital currency dealt another blow
65267
post-template-default,single,single-post,postid-65267,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Facebook’s digital currency dealt another blow

13 Oct Facebook’s digital currency dealt another blow

Posted at 23:09h in Cryptocurrency News by

[ad_1]

Facebook had said it hoped to launch Libra in 2020Image copyright
Getty Images

Image caption

Facebook had said it hoped to launch Libra in 2020

Facebook’s Libra cryptocurrency must not go ahead until the company proves it is safe and secure, according to a report for the world biggest economies.

In a blow to the social media giant, the report for the G7 group of nations warns cryptocurrencies like Libra pose a risk to the global financial system.

The draft report outlines nine major risks posed by such digital currencies.

It warns that even if Libra’s backers address concerns, the project may not get approval from regulators.

The warning comes just days after payments giants Mastercard and Visa pulled out of the Libra project, citing regulatory uncertainty.

The G7 group includes senior officials from central banks, the International Monetary Fund (IMF) and…

[ad_2]

Source link

Tags:
, , , ,