News Facebook In Talks With CFTC Over Plan To Launch...

Facebook In Talks With CFTC Over Plan To Launch New Cryptocurrency

-

- Advertisment -

Authored by William Subert via CoinTelegraph

United States regulator the Commodity Futures Trading Commission is in talks with Facebook about its upcoming stablecoin launch, the Financial Times reported on June 2.

Citing chairman J. Christopher Giancarlo, the publication revealed that Facebook is attempting to smooth out the regulatory landscape ahead of the asset, currently dubbed GlobalCoin, allegedly going live next year.

“We’re very interested in understanding it better,” the FT quoted Giancarlo as saying, himself adding that at present, no formal request for regulatory clearance had appeared.

“We can only act on an application, we don’t have anything in front of us,” he said.

As Cointelegraph reported, Facebook has created considerable buzz around its rumored plans for GlobalCoin, with various sources eyeing a form of global payment network spanning both the social media platform and its sister businesses Whatsapp and Instagram.

Users would ostensibly be able to send each other funds, as well as make in-app purchases.

Late May, the FT claimed Facebook executives were in similar preliminary discussions with U.S. cryptocurrency exchanges Coinbase and Gemini over the launch and potential liquidity solutions.

No party has yet confirmed the plans, which came via two anonymous sources.

Speaking to mainstream media last week, meanwhile, a senior executive of fellow U.S. platform BitPay suggested that once live, GlobalCoin would form one of the major motivating factors for catapulting bitcoin into the public spotlight once more, along with boosting its price.

Source

Facebook In Talks With CFTC Over Plan To Launch New Cryptocurrency
ZeroHedgehttp://www.zerohedge.com/
Zero Hedge is an English-language financial blog that aggregates news and presents editorial opinions from original and outside sources. The news portion of the site is written by a group of editors who collectively write under the pseudonym "Tyler Durden" (a character from the novel and film Fight Club).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Top 7 Porn Sites That Accept Bitcoin/Crypto

Bitcoin and other cryptocurrencies are not that exotic anymore. Ever since the big boom on the crypto...

“Chinachain” aims to connect hundreds of cities across China. Will it work?

If there’s ever a “Chinachain” for business, sanctified and supported by the state, the BSN ( Blockchain...

Top 10 BEST Crypto Trading Books for New Traders (2020)

We may receive a small revenue share if you purchase something from this guide - with...

Crypto Firm That Connects Exchanges and Banks Receives $5m Investment From Wells Fargo

Cryptocurrency startup Elliptic recently held a Series B funding round which was joined by a venture arm...
- Advertisement -

Will New Zealand’s crypto salary project work?

Now in 2020, Bitcoin, and in a broader sense cryptocurrencies in general, have gone through hundreds of...

Is Tron’s decentralized app market really a “Las Vegas on the blockchain?”

The original idea behind creating cryptocurrencies was to offer a much more decentralized and convenient payment platform...

Must read

Top 7 Porn Sites That Accept Bitcoin/Crypto

Bitcoin and other cryptocurrencies are not that...

“Chinachain” aims to connect hundreds of cities across China. Will it work?

If there’s ever a “Chinachain” for business,...
- Advertisement -Facebook In Talks With CFTC Over Plan To Launch New CryptocurrencyFacebook In Talks With CFTC Over Plan To Launch New Cryptocurrency

You might also likeRELATED
Recommended to you