Wednesday 6 November 2019
Facebook may have to divulge further details about its plans after failing to lessen regulatory concerns in Australia. According to Reuters, an Australian newspaper says that eight of the country’s regulators have agreed to use their formal powers to press Facebook for answers as it readies to launch Libra. It comes after the tech giant failed to impress the regulators about its ‘cryptocurrency’ plans at a meeting in October. Similarly to their counterparts across the globe, Australian regulators have expressed concerns about Libra‘s potential effect on existing financial systems, and its use for money laundering purposes. “If we don’t get answers…
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