BoE's Carney says keeping open mind on Facebook's Libra

Reuters

-

18 June 2019, 16:14

You are reading a deleted news piece

This article has been deleted by Reuters on 15 August 2019, 10:45. We keep a copy of it on Undelete.news website available for everyone.

SINTRA, Portugal (Reuters) - Bank of England governor Mark Carney has said he is keeping an ‘open mind’ on the potential utility of Facebook’s planned cryptocurrency, but warned it may face strict regulation if it takes off.

“Anything that works in this world, will become instantly systemic and will have to be subject to the highest standards of regulations,” he said at a conference organized by the European Central Bank in Portugal.

He said regulators would have to look at such currencies’ “operational resilience” and their anti-money laundering and counter-terrorist financing procedures.

Carney met Facebook founder Mark Zuckerberg earlier this year.

Facebook unveiled details of its plans for Libra on Tuesday.

ORIGINAL POST

Reuters-World-US added by Barbara Bush

Comments

There are no comments yet.

You must log in to post a comment.

Similar news

no