The Latest: Regulation on Facebook currency is likely
One regulatory expert believes Facebook’s new currency will “almost surely” fall under new U.S. regulation adopted in the wake of the 2008 financial crisis. Karen Shaw Petrou, managing partner of Federal Financial Analytics in Washington, says the Facebook-led partnership running the project shouldn’t think it can adopt the social media model of light regulation. Otherwise, she says, “they are going to get a rude awakening, because people’s money is at risk. This is really serious stuff.”
https://www.apnews.com/d9f3a3ef897e4db2a637b6c5e59a3d54