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Facebook's Libra may need a bank license



Bank of France Governor Francois Villeroy de Galhau said that Facebook's Libra stablecoin must abide by anti-money laundering rules and seek bank permits if it offers banking services, Reuters reports on June 25.

Per report, while Villeroy admitted during an interview with French magazine L & # 39; Note that there was room to improve cross-border money transfers. He also pointed out that Facebook's libra project must comply with existing banking regulations because "the risk is increased by the anonymity Libra users want."

Villeroy also touched on possible bank authorization requirements:

"If the project seeks to go beyond payments to provide banking services as deposits, then it must be regulated as a bank with bank cards in all the countries it operates. Otherwise, it would be illegal. "

As Reuters reports on June 25, alternative member of the Swiss National Bank board said Thomas Moser at the Crypto Valley Conference in Zug that he is open to Facebook's crypto competition project:

" In general, I think it's an interesting development and I is quite relaxed about it. […] They have clearly stated that they are willing to play according to the rules, they have been in contact with the regulators. "

Head of the Bank of Italy's Market and Payment System Monitor Manager reportedly stated that he wants more information about the Libra project.

As Cointelegraph recently reported, French Finance and Finance wants to "request guarantees" from Facebook for its upcoming digital currency Libra. Maire also asked the governors of the G7 central banks what guarantees to obtain from Facebook.

Yesterday, a former financial advisor to US President Donald Trump expressed support for Facebook's stable coin Libra.

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