Bank of England Governor Says Facebook’s Libra Crypto Will Be Scrutinized
Facebook's Libra cryptocurrency could be subject to the "highest standards" in global regulations, said Bank of England governor Mark Carney.
Buried in Facebook’s Libra white paper are two sentences hinting the project's ambitions go even further than minting a global currency.
Facebook is seeking a data professional to work on its crypto wallet Calibra, as well as a policy specialist to help with regulatory hurdles.
If the project is to be truly global, Facebook may need “literally hundreds, perhaps thousands, of licenses from hundreds of different regulators,” said Sean Park.
The buck stops with Zuck in the looming fight between the world's governments and Facebook over Libra.
Appearing on CNBC Thursday, the chair of the U.S. House Financial Services Committee doubled down on her calls for Facebook to halt Libra development.