Facebook’s Libra Must Obey Anti-Money Laundering Rules: French Central Banker

www.oann.com | 6/21/2019 | Staff
PARIS (Reuters) – Facebook’s planned global ‘Libra’ cryptocurrency must respect anti-money laundering regulations and it must seek banking licenses 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 - France - Governor - Francois - Villeroy

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.

“The risks are increased by the anonymity that Libra users would have,” Villeroy said in an interview with French weekly magazine...
(Excerpt) Read more at: www.oann.com
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