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​​Facebook's Libra will require global regulatory cooperation, top Hong Kong regulator says

By Ben Lucas ( November 6, 2019, 09:27 GMT | Insight) -- Regulating Facebook’s proposed cryptocurrency Libra will require extensive levels of cooperation, both nationally and internationally, to address the myriad of concerns such projects raise, one of Hong Kong’s top financial regulators said today. Ashley Alder, the CEO of the Securities and Futures Commission, said that national data privacy, competition, and anti-money laundering regulators must address the respective risks associated with such stablecoin initiatives, and they must also work with their international counterparts to avoid possible regulatory arbitrage in the future.Regulating Facebook’s proposed cryptocurrency Libra will require extensive levels of cooperation, both nationally and internationally, to address the myriad of concerns such projects raise, one of Hong Kong’s top financial regulators said today....

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