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United States regulator the Commodity Futures Trading Commission (CFTC) is in talks with Facebook about its upcoming stablecoin launch, the Financial Times (FT) reported on June 2.

Citing chairman J. Christopher Giancarlo, the publication revealed that Facebook is attempting to smooth out the regulatory landscape ahead of the asset, currently dubbed GlobalCoin, allegedly going live next year.

And where's the source for this news? I'll help you out finding the actual source for this news.

Here you go: FT: US Regulator CFTC in Talks With Facebook Over Rumored Crypto Plans (https://cointelegraph.com/news/ft-us-regulator-cftc-in-talks-with-facebook-over-rumored-crypto-plans)

Always give credit to the original source.

hey bro, before you start make some thread will be better you search on this subforum whether there are already the same like you or not, i see many thread this on this subforum

telegram much more interesting

We will see how facebook can smoothly process this legal concern easily and check how SEC will take the matters lightly. Facebook is famous and we know that, maybe SEC will favor them considering its also a US based company.

More news can be seen here: https://stockpence.com/2019/investing/everything-we-know-about-facebooks-cryptocurrency/

Don't get too excited,it is not going to change anything in the decentralized market because people aware that centralization is completely against the cryptocurrencies.

I am not so sure about that. If the SEC allows FB to launch their coin without any problems this may be used as a door opener for other companies to launch their own coins, too. This may result in a lot of custom blockchains and coins which arent compatible, fragmenting the crypto space way more than it already is.

They are doing this to make everything smooth, heading to their official launching, and we all know Facebook, they do not want to be questioned on anything that will hamper any of their baby projects, and my guess is they are going to make this one huge because there is already a market for this new project.

It's too early to say what will this Facebook coin will do to the market, we really need how it's going to be, will it be a public token wherein we can invest on or just for their private used only. So it's hard to speculate at this point. But one things for sure, the hype will be great at this coin because of Facebook brand name.

Yes, the name here means much. Facebook is the number one social network (and not only, sure). Libra is going to be a real boom...IF it is released. The FB team said that the project faces too many problems, and it has become too expensive and complicated to release their stable coin. Probably, it is a sly PR, or maybe this is the truth. Let us wait to see what happens next year.

What is this boom? is not it just another stable coin?
the price will at most moving like USDT, did not they say that clearly on their social media or even the founder himself said so? stop thinking about a huge profit if you are investing your money into it. Because it will move like any other stable coin. Of course, if they are able to pass the law and regulation in the first place.

currently they are under a lot of pressure from parliament. There is a news that Facebook may have to pay a fee of up to $ 5 billion and must accept some of the parliamentary information security conditions.
It seems that Libra is experiencing many disadvantages during this period. I suspect they will terminate this project.

Facebook's money-making is based on surveillance capitalism, that is the exploitation and selling of user data. They have some really advanced behavioural profiling algorithms, and they are not going to stop this activity anytime soon. Facebook absolutely will not comply with any restrictions to do with information security. Of course they may say they'll comply, and they may convince (or bribe) officials in order to legally comply, but that's a different thing altogether.

I don't like Facebook, but they are undeniably hugely successful. I imagine they've put a vast amount of effort into Libra, and I don't think there's any chance of FB giving up on this.

Exactly, after they released that they are going to developed their own tokens, US law makers started to put a clamp on Facebook. So most likely, we won't see Libra or whatever you call it. I'm sure majority of us doesn't want a big company such as Facebook to have monopoly, of course there's also the issue of privacy which is very important to us.

And just like ripple(XRP) this Zuckerberg coin will not be a threat to bitcoin and other altcoins.maybe this will be popular at first since Facebook has been a very known in this industry but learning about the benefits of this coin will disappoint the investors and soon may full out their money then go back to bitcoin again.look at ripple who’s been a banks currency (as what many says here)staying behind bitcoin and ethereum until now and seen no future growth to take the highest position in market capitalization

already see Libra coin on the market, but i dont know its real or now, i see the news about this Libra coin still didnt development

yes it is very good when Facebook also entering into this field it will be more comfortable and good trustable field to be continue for the people that so I think they also got the opportunity to play an important role while launching a new cryptocurrency.

Mind to give the link to that Libra coin that you have seen in the market? as far as I know, Libra haven't launched yet and they are on the hot seat of US senate while on the developing process so how they can be on the market if there's no announcement from the official makers of it?

The one that you have seen probably is a decoy and is a potential scam that misleads investors.

Libra scams are already proliferating on Facebook (https://www.theverge.com/2019/7/23/20706772/facebook-libra-scams-pages-groups-accounts-pre-sale-cryptocurency-fraud)

Facebook and Instagram Now Have a Problem With Scam Libra Ads (https://cointelegraph.com/news/facebook-and-instagram-now-have-a-problem-with-scam-libra-ad)

Did you mean this one?

https://coinmarketcap.com/currencies/facebook-libra/

It's still under development if you look at it and there's no available data on it yet.