LONDON: The global anti-money laundering watchdog is closely monitoring developments on Facebook's planned Libra cryptocurrency, its new head told Reuters on Tuesday, in the latest sign of growing regulatory scrutiny of the project.
Earlier on Tuesday, a senior U.S. Treasury official, speaking to reporters in Switzerland, said that Libra must meet the highest standards for combating money laundering and terrorism financing if it is to get off the ground. In the first global attempt to bring the crypto sector to heel, the FATF - a body set up 30 years ago to tackle money laundering - told countries in June to tighten oversight of cryptocurrency exchanges to stop digital coins being used to launder cash and finance terrorism.Liu, speaking at an event in London, said the illegal use of cryptocurrencies is probably spreading at pace.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook sees Libra tied to greenback, euro, yen, pound and Singapore dollarWASHINGTON (BLOOMBERG) - Facebook Inc told US senators that the initial basket of currencies that will back its Libra cryptocurrency will likely include the US dollar, euro, yen, British pound and Singapore dollar.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Facebook sees Libra tied to greenback, euro, yen, pound, Singapore dollar[WASHINGTON] Facebook Inc told US senators that the initial basket of currencies that will back its Libra cryptocurrency will likely include the US dollar, euro, yen, British pound and Singapore dollar. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Swiss-based Libra will have to meet tough US standards - US TreasuryThe Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing if it is to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Libra cryptocurrency must meet tough regulatory standards: US TreasuryThe Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing, a senior U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Swiss-based Libra will have to meet tough US standards: US TreasuryThe Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing, a senior U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Libra cryptocurrency must meet tough regulatory standards: US TreasuryThe Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing, a senior U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »