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Facebook currency, Libra, is a novelty for regulators
13 September 2019 00:00
Jack Schickler discusses Facebook's foray into cryptocurrency, Libra, and the regulatory response already expected in its home jurisdiction of Switzerland - and beyond.
Facebook's Libra has attracted the interest of the EU competition regulator, which is fitness-checking it against a few classic collusion concerns as well as some more novel regulatory theories, to judge by questionnaires it sent out this summer.
News that Facebook’s virtual-currency project Libra will have to be regulated like a bank in its home town of Geneva looks like just the tip of the iceberg.