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  • Facebook’s Libra facing much further scrutiny, this time from the Bank of Japan.
  • BoJ’s deputy governor said “As for Libra, we must bear in mind that the potential global user-base could be enormous.”

 

The Bank of Japan (BoJ) has recently made its stance against Facebook’s upcoming cryptocurrency Libra in recent commentary from the deputy governor Masayoshi Amamiya.

He warned the social media giant that all digital currencies have to comply with the regulations on money laundering and risk management, as he was speaking to Reuters.

The Japanese central bank believes that Facebook’s plan to introduce the currency is sketchy and have sent out a warning to central banks, for them to be vigilant about its impact on banking and settlement system.

He was quoted as saying:

“As for Libra, we must bear in mind that the potential global user-base could be enormous,”