UK Regulators Uncompromising On Crypto Despite Facebook 'Hype'

UK authorities have vowed to look “beyond the hype” around stablecoins, and Facebook’s Libra project in particular, ensuring instead that crypto firms providing payment or e-money services are regulated accordingly.

Christopher Woolard, executive director of strategy and competition at the Financial Conduct Authority (FCA), confirmed on Tuesday that the regulator has been discussing with Facebook its plans to develop a global payments network based on its own stablecoin, Libra.

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial