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Cryptopolitan 2019-10-18 16:53:31

FATF targets Libra and other stablecoins as threat to global economy

In its recently concluded meet, FATF targets Libra and other stablecoins. The Financial Action Task Force works on a global scale to counter-terrorism funding and money laundering schemes via inter-governmental cooperation. It is the latest meeting from October 13 to October 18 has just concluded in Paris. FATF members have expressed serious concerns about cryptocurrencies, especially the upcoming digital currency by Facebook called Libra. The group mentioned that such alternate currencies, if not regulated correctly, can impede the fight against money laundering and terrorism funding. Libra must adhere to worldwide standards on cryptocurrencies. Xiangmin Liu, the president of the

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