Facebook Stable Coin takes shape: group talks with stock market regulator

Facebook continues to work on its planned Stable Coin. According to reports, the Tech group is now in discussions with the securities and exchange Commission CFTC. One thing is for sure: The planned Global Coin will not let the financial market unchanged.

By Anton Livshits
3. June 2019BTC$8.429,00 -3.04%part Facebook Twitter LinkedIn xing mail

Only a few issues in the crypto-Space at the moment so much to talk about: digital giant Facebook is working on its own crypto-currency. The Stable Coin-scale currency is expected to carry the name of the Global Coin. As the start date for the first quarter of 2020, will be traded. The Silicon Valley group is gone now, apparently the next step. He has been in talks with the Commodity Futures Trading Commission (CFTC).

The talks are to show the Financial Times, according to whether Facebook planned Stable Coin under the jurisdiction of the exchange, falls to the Supervisory authority. According to Christopher Giancarlo, the head of the CFTC, are the negotiations in a "very early stage." The authority does not have a request before lying still. Critical for the CFTC, whether the trade of the Stable Coin on Futures or Cash-based markets successes. The company from Silicon Valley has yet to be further requirements. According to the report the regulatory authorities are interested in how the group's laundering of Mark Zuckerberg measures against money, as well as the Know your Customer well-known identity check introduces.

Facebook is working on block chain-based payment network

The CFTC is not the only authority, with the Facebook talks have begun to is. According to a BBC news report, Facebook CEO Mark Zuckerberg met with Mark Carney, the Governor of the British Central Bank. Here, too, the planned Stable Coin. Also, in addition, Facebook is with other representatives of the U.S. government, as well as with various actors in the financial sector in exchange.

as a Global Coin known Stable Coin acts as the engine for Facebook's future payment platform Project Libra . Platform and crypto currency to want to be in Facebook's existing Messenger infrastructure involved. The Tech group, this opens up the possibility of financial transactions without resorting to traditional means for men to handle. This could change the financial market in a sustainable way. Finally, Facebook has an enormous information advantage over banks and other traditional actors.

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