.yet much-discussed cryptocurrency initiative, code-named “Project Libra,” could become a major e-commerce tool for Facebook users across the social network’s suite of services, from Instagram to messaging. But as with other cryptocurrencies such as Bitcoin, the new Facebook coinmoney launderers and terrorist financiers, a risk that has drawn the attention of lawmakers and regulators.The project is expected to be unveiled on Tuesday, where more details will be released.
“Facebook could use cryptocurrency as a payment mechanism to remove friction across its various services,” analysts at Merrill Lynch said in a June 14 report. “We see the launch as an important initiative for the company as it builds out a more private messaging ecosystem with e-commerce capabilities.”
By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. “Facebook coin will do for money laundering what Facebook did for fake news — likely lead to an explosion in terrorist financing,” said Charlie Delingpole, CEO of Comply Advantage, an anti-money laundering consultancy.
I don't think your abuela is going to use this tool.
facebook is essentially saying: 'we want your money. no more getting caught for laundering your dirty money, for which you have unjustly struggled for doing what you believed was right like selling illegal weapons, narcotics, and humans. never forget, we are you!'
Cool, ich glaube ich werde auch bald meine eigene Parallel-Währung auf den Markt bringen! Es war schon immer mein Wunsch das eigene Geld drucken zu können! 💰💶💴💵
Nope. nope. nope.
Hello, support? I HAD $100,000 of Facecoin when I went to bed.. now I have $11 in my account: what happened? 'Yeah. We did a software update last night.. sorry 'bout that. Get over it' Click
Boundless greed -
HAH - would NEVER us this under any circumstances. Digital currency is about as valuable as the paper it's printed on.....oh....wait....
Corporation printing its own currency (something done almost exclusively by governments) = definite government intervention
Facebook$$$$
FacebookCensorship
🍿🥤🍿🥤🍿Cannot wait to watch this deadly comedy.
I bet he stole that idea from another company.
So many social questions beyond the regulatory issues. Can it be mined like Bitcoin or ethereum? Does it compete with those currencies? Will it only be useful within the confines of the Facebook ecosystem? Will this start an explosion in cryptocurrency use?
It's like the tech nerd's version of a redneck in a backyard on the roof saying, 'Watch This.'
What would Mr. T say about anyone who handed their credit card number over to Facebook?
Fb supports next-gen Nazi Trump! Dump Fb. You can live without it!
One more negative article and I'm leaving FB 4ever.