Industry cautious over Facebook crypto

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By Jasper Cox
20 Jun 2019

Europe’s banking sector and its regulators are waiting to see how Facebook’s plans for a new cryptocurrency will develop. It could have major implications for financial regulation.

Facebook said on Tuesday that it plans to allow its users to use a new digital currency, the Libra, which would use blockchain technology. The tech giant expects to launch the wallet for the currency next year. Libra will be backed by a basket of currencies and assets.

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