Facebook’s Libra sparks concerns among European financial institutions144

Following Facebook’s unveiling of its stable cryptocurrency, not only did top crypto influencers criticize the plan, but some European officials immediately called for deep scrutiny of the project, as reported by Bloomberg.

Facebook finally revealed its highly anticipated cryptocurrency, “Libra.” With Libra, the social network giant aims to bank the unbanked and power transactions between individuals across the globe. The token will be a sign of “freedom, justice, and money,” which, according to David Marcus, is exactly what Facebook is trying to achieve.

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