Facebook’s Libra could make stablecoins mainstream
Tuesday, June 25, 2019
Significance
The social media major seeks to enter the 2-trillion-dollar global payments market, but several central banks have raised regulatory and oversight concerns over this plan.
Impacts
- Strong social media regulations on data privacy protections will become even more important.
- Traditional banks will need to revise their business models as fintech expands, especially on servicing costs.
- Cybersecurity investment by cryptocurrency issuers and exchanges would need to rise dramatically to build user trust.
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