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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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