June 25 2019
Facebook’s planned global ‘Libra’ cryptocurrency must respect anti-money laundering regulations and it must seek banking licences if it offers banking services, France’s central bank chief said in a magazine interview.
Facebook Inc announced plans last week to introduce a new global cryptocurrency called Libra as part of an effort to expand into digital payments.
Bank of France Governor Francois Villeroy de Galhau said that while there was room to improve cross-border money transfers, Libra had to follow anti-money laundering rules.