Stablecoins like Facebook’s Libra may pose systemic risks, Fed says

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WASHINGTON — Global stablecoins such as Facebook’s proposed Libra cryptocurrency could hurt financial stability if they are improperly designed, according to a Federal Reserve report released Friday.
In light of these concerns, the Federal Reserve and other regulators are closely monitoring such risks to ensure that any stablecoin system with a global scope and scale addresses legal and regulatory challenges before they operate.
Stablecoins like Facebook’s Libra may pose systemic risks, Fed says


Thursday January 01, 1970