Blockchain

Facebook Libra Must Follow US Rules, Says Treasury Official

Facebook Libra Must Follow US Rules, Says Treasury OfficialFacebook Libra Must Follow US Rules, Says Treasury Official

It was back in July that Facebook’s Libra was announced and ever since the announcement, it has become the subject of intense scrutiny from lawmakers. It has not only led to the scrutiny of the entire cryptocurrency project announced by Facebook (NASDAQ:FB) but that of the wider cryptocurrency market as well and consequently, it has proven to be a massive disruption. It also coincided with the point at which Bitcoin price started giving up the momentum that it had gained in the first half of the year.

Key Details

In a new development, a key US Treasury Official has stated that Libra will need to comply with the highest regulatory compliance standards before it is launched.

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