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Libra and the Regulators

by Alan Daniel
, Libra and the Regulators

We all know that Facebook has recently announced plans to launch Libra in 2020 but we still had some questions around regulations.

Well, we have also seen that Facebook has already consulted with the central bank about its proposed project.

The Federal Reserve Chairman, Jerome Powell stated on June 19th that the social media giant has exchanged words with central bank officials to appraise them of the project.

He said “Facebook, I believe, has made quite broad rounds around the world with regulators, supervisors and lots of people to discuss their plans and that certainly includes us”.

His statement indicates that Facebook has not simply spoken to officials within the United States but in other nations as well. This makes quite a bit of sense, Facebook is global and has ambitions to be one of the fundamental entities present within the world today.

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