Libra, Facebook’s cryptocurrency to be launched as a payment service provider, requires close examination. According to a senior official at Britain’s financial watchdog, this new coin project requires deep scrutiny as it raises questions both on social and legal grounds. Facebook unveiled its Libra digital coin last month as a platform that will let one buy things or send money to people with nearly zero fees.
Regulators Have Doubts About Libra
One would pseudonymously buy or cash out their Libra online or at local exchange points like grocery stores. However, soon after its announcement, Libra raised concerns over its potential impact on privacy from lawmakers and regulators around the world.