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Australia reportedly wants to grill Facebook about its cryptocurrency plans

According to Reuters, an Australian newspaper says that eightof the countrys regulators have agreed to use their formal powers to press Facebook for answers as it readies to launch Libra.

Similarly to their counterparts across the globe, Australian regulators have expressed concerns about Libras potential effect on existing financial systems, and its use for money laundering purposes.

The newspaper went on to say that a specialist committee, tasked with exploring potential threats for the Australian Securities and Investments Commissions , said in July that all regulated entities, could be affected if Libra wasnt adequately supervised.

The news comes just one day after a European Union draft report suggested that the European Central Bank issue its own public digital currency to counteract Libra.

Original article
Author: Thenextweb

TNW is one of the world’s largest online publications that delivers an international perspective on the latest news about Internet technology, business and culture.

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