Facebook is set Tuesday to unveil a bid to bring cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants. Facebook has been trying to ward off hostile regulatory scrutiny after a series of privacy abuses and the spread of fake news. Facebook has already sought blessings from the US Treasury and the Bank of England, the BBC reported last month. But it will need to overcome questions of trust and privacy, not least over how financial data will be stored. Some analysts are betting that the heavyweight Libra consortium will help to do that.
Source: The Guardian June 17, 2019 11:37 UTC