Chair of Financial Stability Board says company’s plans could spark closer scrutiny of cryptocurrencies
Facebook’s Libra cryptocurrency is facing increasing skepticism from international regulators days after ambitious plans for it were unveiled by the social media company.
On Tuesday, Randal Quarles, chair of the Financial Stability Board (FSB), a policy coordinator for G20 countries, said Facebook’s plan to expand into retail payments could lead regulators to take a closer look at such financial instruments.
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