Friday, December 8, 2023

not so fast Facebook!

By DAC000 , in Cryptocurrency Facebook Libra stablecoin , at October 12, 2020 Tags: , , ,

Yesterday The G7 definitively agreed in a draft statement Facebook’s proposed Libra can’t be deployed until it is properly regulated.

The same statement “suggested digital payments could improve access to financial services, cut inefficiencies and costs“. About a one-minute read.

Comment: given Facebook’s toxic history of generally ruining good things we’re pleased to see attempts to reign them in,. Even if The G7 broadly lacks teeth in markets Facebook has clearly targeted with Libra e.g., India and other developing nations. oh! The article references The FSB’s
ten recommendations for a common, international approach to regulating stablecoins
; a must read if you haven’’t already.