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Facebook has been very discreet about its recent cryptocurrency and blockchain business. A more transparent approach could lead to speculation in the market. In addition, the regulation of cryptocurrency and payments is unclear either. Recently, the US Senate Banking Committee sent an open letter to founder Mark Zuckerberg asking for details about his cryptocurrency project: Libra.
In addition, according to Reuters press release, Facebook's affiliate executives, WhatsApp, Instagram and Messengers, have been subject to regulatory oversight on privacy issues.
Would have, Facebook has registered the Libra Networks network in Geneva, Switzerland.. According to Reuters findings, Facebook is the stakeholder in the company that aims to provide financial and technological services and develop related hardware and software. The recording was made on May 2, 2019 in Geneva. According to the fillings,
"Investment, payments, financing, identity management, analytics, big data, blockchain and other technologies".
Facebook has acquired the trademark rights for Balance would have recruited dozens of financial companies and online merchants.
Facebook has also recruited its new blockchain team, which has more than 40 members from the financial technology sector. He has also adopted a lenient position on advertising crypto-currency and blockchain projects on his giant social media platform.
Do you think the move from the United States to Europe was due to regulatory pressures? Please share your views with us.
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The Facebook Libra Networks cryptocurrency project opens an office in Switzerland
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Apparently, Facebook would have registered the account of "Libra Networks" in Geneva, Switzerland. According to Reuters findings, Facebook is the stakeholder in the company that aims to provide financial and technological services and develop related hardware and software.
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Nivesh Rustgi
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CoinGape
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