The Menlo Park, California-based company has big aspirations for Libra, but consumer privacy concerns or regulatory barriers may present significant hurdles. It is not clear how lawmakers or regulators will react to Facebook making a push into financial services through the largely unregulated world of cryptocurrency. Facebook has engaged with regulators in the United States and abroad about the planned cryptocurrency, company executives said. Facebook hopes it can bring global regulators to the table by publicising Libra, said Kevin Weil, who runs product for the initiative. The Swiss financial watchdog FINMA said it was in contact with the initiators of the Libra project.

Source: bd News24 June 18, 2019 13:30 UTC