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ARTICLE · 30 SEPTEMBER 2019

Facebook's Libra Cryptocurrency - Key Aims And The Future Regulatory Landscape

Gowling WLG
Gowling WLG
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With Facebook announcing Libra-a new global cryptocurrency and payments system-and its governing body, the Libra Association, uncertainty has arisen over its place in the global economic landscape

United KingdomTechnology
Sushil Kuner
Sushil Kuner
David E. Brennan
David E. Brennan
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With Facebook announcing Libra-a new global cryptocurrency and payments system-and its governing body, the Libra Association, uncertainty has arisen over its place in the global economic landscape and the regulatory path ahead. Sushil Kuner, Principal Associate, and David Brennan, Partner and Co-Chair of Tech at Gowling WLG, discuss key technical details of Libra, the response from regulators and its future.

What is Libra and the Libra Association?

Libra is the cryptocurrency, labelled by many as a stablecoin of sorts, being launched by Facebook with the intention that it will provide a replacement for paper money and even credit card transactions. Holders of the cryptocurrency will, in theory, be able to use Libra as a payment system transacting directly through Messenger, WhatsApp and third party apps.

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