Facebook pioneered its crypto-stability initiative and began discussions with the US Commodity and Futures Trading Commission (CFTC).
According to the Financial Times, CFTC chairman Christopher Giancarlo confirmed that the agency had been “the initial stage of discussion” with Facebook, the Coin Desk news portal reported on Sunday.
The purpose of this meeting is to better understand if Cryptoshop Facebook might be under the task of setting up the CFTC.
“We are very interested in understanding it better,” Giancarlo quoted in the report. “We can only act on request, we have nothing in front of us.”
The news is in a recent report that Facebook has also held talks with government officials in the United States and the United Kingdom to discuss regulatory opportunities and problems for the crypto stable GlobalCoin channel.
According to reports, the Facebook Libra project “Krivto-Currency” is intended to give Facebook users around the world the opportunity to transfer money across borders and make online purchases.
However, one problem underlined compliance is whether and how Facebook adheres to and implements anti money laundering and customer knowledge, the report added.