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The US regulator, the Commodity Futures Trading Commission (CFTC) is in talks with Facebook about its upcoming launch of "stablecoin," the Financial Times (FT) said on June 2.
Citing President J. Christopher Giancarlo, the publication revealed that Facebook was trying to smooth the regulatory landscape before the asset, currently dubbed GlobalCoin, which is expected to go live next year.
"We are very interested in a better understanding," said Giancarlo, quoted by the Financial Times, adding that, for its part, no formal request for regulatory approval had been submitted.
"We can only act on one application, we have nothing in front of us," he said.
As reported by Cointelegraph, Facebook has generated considerable excitement around its plans for GlobalCoin, with various sources referring to a form of global payment network covering both the social media platform and its sister companies Whatsapp and Instagram.
Users would ostensibly be able to send funds and make purchases via the app.
At the end of May, FT claimed that Facebook executives were engaged in similar preliminary discussions with the US coinbase and Gemini cryptocurrency companies about potential launch and liquidity solutions.
No party has yet confirmed plans, which came via two anonymous sources.
At the same time, a senior US BitPay platform official said that once live, GlobalCoin would be one of the main motivators to catapult Bitcoin (BTC) into the spotlight, while increasing its price.
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