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PHOTO: Participants walk in front of a Facebook logo at the Facebook Inc. F8 Developer Conference in San Jose, California, United States, April 30, 2019. REUTERS / Stephen Lam / File Photo
(Reuters) – Facebook Inc. is in talks with US derivatives regulator Commodity Futures Trading Commission (CFTC) on the social media company's plans for a digital currency, the Financial Times reported on Sunday.
The regulator is at the very beginning of the talks with Facebook to try to understand if the company's plans for digital parts would fall within the scope of the CFTC, the FT reported, citing Christopher Giancarlo, the chief of the CFTC.
In May, Facebook created a financial technology company in Switzerland, specializing in blockchain, payments, data analysis and investments.
Facebook declined to comment on the FT report.
Report by Ishita Chigilli Palli in Bengaluru; Edited by Peter Cooney
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