Regulating LIBRA: The Transformative Potential of Facebook’s Cryptocurrency and Possible Regulatory Responses
29 Pages Posted: 11 Jul 2019 Last revised: 18 Aug 2019
Date Written: July 11, 2019
Libra is the first private cryptocurrency with the potential to change the worldwide payment and monetary system landscape. Due to the scale and reach provided by its affiliation with Facebook, the question will be not whether, but how, to regulate it. This short paper introduces the Libra project and analyses the potential responses open to regulators worldwide.
Keywords: Cryptocurrencies, Data Protection, Digital Identity, FinTech, Financial Regulation, Data Protection, Payment Services, Systemic Risk, Financial Inclusion
JEL Classification: D23, G38, K22, L22, M15, O16
Suggested Citation: Suggested Citation