Facebook's Libra cryptocurrency needs deep thought and detail: UK regulator

LONDON: Facebook's fledging cryptocurrency will raise questions for both society and government that need close examination, a senior official at Britain's financial watchdog said on Tuesday, in another sign that the planned project will face deep scrutiny.

"Historically, this may have been a sector that has lived by the mantra of 'move fast and break things,' but the issues raised here require deep thought and detail," Woolard told a conference at the University of Cambridge, according to remarks posted on the FCA's website. The response of domestic and international financial regulators and monetary authorities to the Libra project will have a crucial impact on its prospects.Though some, including the FCA, have said they have met Facebook to discuss the project, there are still many questions over exactly how it will operate.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What consumers need to know about Libra, Facebook’s new cryptocurrencyCryptocurrencies have become a global phenomenon in the past few years. Now Facebook is launching its own cryptocurrency in association with Visa MasterCard Uber and others.The stated aim of Libra is to enable a simple global currency and financial infrastructure that empowers billions of
Source: TODAYonline - 🏆 1. / 99 Read more »

What consumers need to know about Libra, Facebook’s new cryptocurrencyCryptocurrencies have become a global phenomenon in the past few years. Now Facebook is launching its own cryptocurrency in association with Visa MasterCard Uber and others.The stated aim of Libra is to enable a simple global currency and financial infrastructure that empowers billions of
Source: TODAYonline - 🏆 1. / 99 Read more »

Kopitiam takes e-payment to next level with cryptocurrenciesKOPITIAM foodcourts are a mainstay of many Singapore malls, and the revamped Funan mall that opened on Friday is no different, with a Kopitiam installed in its basement. Read more at The Business Times. What the...
Source: BusinessTimes - 🏆 15. / 51 Read more »