Cryptocurrencies
Facebook’s Libra Gambit Forces Washington’s Hand on Crypto Policy
- Libra coin could jumpstart efforts to regulate digital tokens
- Lawmakers’ skepticism toward Facebook might trigger action
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Facebook Inc.’s decision to create its own digital money –- with the grandiose ambition of establishing an alternative global financial system –- is jumpstarting a long simmering debate in Washington over how to regulate cryptocurrency.
For years, U.S. regulators and lawmakers have bickered over how to tackle the thorny issues surrounding the emergence of cryptocurrencies, like protecting consumers and preventing crime. But the entry of a big and controversial company like Facebook could force their hand.