Reuters news
Reuters news

Libra cryptocurrency must meet tough regulatory standards-U.S. Treasury

BERN (Reuters) – The Facebook-led Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing, a senior U.S. Treasury official said on Tuesday.

Any cryptocurrency project, including Geneva-based Libra, operating in all or substantial parts of the United States will clearly have to satisfy U.S. regulatory standards, U.S. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker told reporters in the Swiss capital.

Digital currencies such as Libra raise serious concerns and must be regulated as tightly as possible to ensure they do not upset the world’s financial system, Group of Seven finance ministers and central bankers had said in July…

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Reuters is an international news organization. It is a division of Thomson Reuters and has nearly 200 locations around the world. Until 2008, the Reuters news agency formed part of an independent company, Reuters Group plc, which was also a provider of financial market data.
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