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Facebook's Libra Cryptocurrency Hit with Tough Regulatory Hurdles in Europe

They said that initiatives like Libra present opportunities for cheap and fast payments, but also pose risks related to money laundering, cyber security, and terrorism financing.

The EUs stance represents the latest setback for Facebooks Libra, which experienceda major blow in October when partners eBay, Visa, Mastercard, and Stripe announced in quick succession that they were withdrawing from the project.

Facebook CEO Mark Zuckerberg expressed some of his own uncertainties about Libra when testifying before Congress recently.

Thats whats made America successful and its why our tech industry has led the world, Zuckerberg said before theHouse Financial Services Committee in October.

EconomyLondon / EuropeTechCryptocurrencydigital currencyEUEuropean CommissionEuropean UnionFacebookLibraMasters of the UniverseSilicon Valley

Original article
Author: Breitbartnews

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