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Facebook discussed with the regulator the launch of their own cryptocurrency

The operator of the popular social network Facebook Inc., has already negotiated the launch of its own cryptocurrency GlobalCoin with the US Commodity Futures and Exchange Commission (CFTC), a US regulator dealing with the regulation of commodity futures and options markets in the United States. This was stated by the head of the federal department Christopher Giancarlo.

According to the Financial Times, negotiations are still at an early stage, within which the CFTC intends to find out whether GlobalCoin falls under its regulation. The agency expressed a desire to better understand the nature of steyblcoin.

At the moment, CFTC is allegedly not sure whether GlobalCoin falls under their regulation, however, they believe that if steablecoin is pegged to the US dollar, then derivatives may not be needed.

Earlier, the media reported that Facebook is already in talks with representatives of the US Treasury Department and Bank of England Governor Mark Carney, as well as with Western Union, Visa and Mastercard regarding the initiative, code-named Libra.

On May 2, Facebook registered Libra Networks in Geneva, Switzerland. Her profile involves the development of infrastructure and software, in particular, related to investment activities, payment transactions, financing, identity management, data analysis, Big Data, blockchain and other technologies.


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