Regulators Should Make The Call on Libra, Not Lawmakers

The U.K. Finance Minister Philip Hammond said that regulators and not lawmakers should decide on how to regulate Facebook stablecoin Libra. Hammond further stressed that without proper scrutiny, Libra has the potential to pose a great risk to the financial system as it could become a tool for money laundering and financing terrorism. Meanwhile, Bank of England governor Mark Carney can in support of Libra, regardless of the project potential downsides.

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