UK’s Central Bank Establishes Provisions for Facebook’s Libra

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The United Kingdom’s central bank has singled out provisions for Facebook’s yet-to-be-released Libra stablecoin. The United Kingdom’s central bank has established provisions that Facebook’s yet-to-be-released Libra stablecoin must comply with in order to be issued in the country.The Bank of England presented its latest Financial Policy Summary and Record at a Financial Policy Committee (FPC) meeting held on Oct. 9. The document — which addresses the resilience of the U.K. financial system in general — discusses innovative developments in the payments sector, noting that Libra has the potential to become “a systemically important payment system.”Launch of new payment systemsThe FPC…
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UK’s Central Bank Establishes Provisions for Facebook’s Libra

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