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Internet: Facebook: Libra no competition with national currencies


TIME ONLINE | News, backgrounds and debates

Washington (AP) - Facebook is trying to dispel the massive skepticism of the policy towards its project for the digital currency Libra. Libra is not competing with national currencies and will be subject to regular oversight of, for example, money laundering, a Facebook executive told a US Senate hearing. Since the Libra Association, which is to manage the system, is located in Geneva, it should be supervised by the Swiss Financial Market Authority Finma. With her first preparatory talks have been conducted, they say.

Source: zeit

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