FCA: Libra will lead to financial exploitation

The Financial Conduct Authority (FCA) believes Facebook’s scales will lead to financial exploitation, thus eliminating the need for major payment institutions.

FCA’s Woolard is talking about Libra this week

UK regulator’s executive director for strategy and competition, Christopher Woolard, told an audience at the P20 Global Payments Conference in London this week that the experimental digital currency could pose a massive risk to an already huge money laundering economy, …

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