Facebook Inc.’s cryptocurrency ambitions may be stalled by international regulators’ lingering consumer protection and financial sovereignty scepticism.
On September 13, France and Germany issued a rare joint financial statement in which the two countries reiterated that the challenges around cryptocurrencies and “so-called stable coin[s]” include financial security, investor protection, money laundering and terrorism financing, data protection and financial and monetary sovereignty. The statement added that Facebook’s Libra blueprint “fails to convince that those risks will be properly addressed”.
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