Libra Told To Act Responsibly As it Takes On Remittances

Facebook’s Libra has the potential to shake up a global remittances market long in need of reform, experts believe, but much will hinge on the opinions of a diverse array of regulators in developing economies.

Migrants can be slugged with fees amounting to more than 20 percent of the value of a transfer by remittance providers in some corridors, according to World Bank data, a painful hit for workers from poorer countries.

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