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  Technology   In Other news  03 Jun 2019  Facebook in talks with US derivatives regulator over digital currency plans

Facebook in talks with US derivatives regulator over digital currency plans

REUTERS
Published : Jun 3, 2019, 12:58 pm IST
Updated : Jun 3, 2019, 12:58 pm IST

Facebook set up a financial technology company in Switzerland focusing on blockchain and payments.

The regulator is in the early stages of talks with Facebook in an effort to understand whether the company’s plans for digital coin would fall under the CFTC’s scope, the FT reported.
 The regulator is in the early stages of talks with Facebook in an effort to understand whether the company’s plans for digital coin would fall under the CFTC’s scope, the FT reported.

Facebook Inc is in talks with the US derivatives regulator, the Commodity Futures Trading Commission (CFTC), over the social media company’s plans for a digital currency, the Financial Times reported on Sunday.

The regulator is in the early stages of talks with Facebook in an effort to understand whether the company’s plans for digital coin would fall under the CFTC’s scope, the FT reported, citing Christopher Giancarlo, the head of the CFTC.

 

In May, Facebook set up a financial technology company in Switzerland focusing on blockchain and payments as well as data analytics and investing.

Facebook declined to comment on the FT report.

Tags: facebook, cftc, commodity futures trading commission, cryptocurrency, blockchain