Federal Reserve Chair: Regulation will be “Very, Very High” on Libra

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The chairman of the Federal Reserve, Jerome Powell has said his agency will be looking into the new Libra stablecoin from Facebook.  Powell has promised that Facebook would be held to a very high standard and implied that the social media giant should be able to operate successfully.  “Libra’s a new thing; we are looking at it very carefully. Given the possible scale of it, I think that our expectations — from a consumer protection standpoint, from a regulatory standpoint — are going to be very, very high. […] Authority for overseeing Libra is going to be in several places,…
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Federal Reserve Chair: Regulation will be “Very, Very High” on Libra

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