Regulation

SEC considers whether to regulate Facebook’s Libra

US financial regulator is examining whether Facebook’s cryptocurrency is a security

US securities regulators are examining whether Facebook’s planned cryptocurrency should fall under their oversight, a development that could further complicate a project that faces criticism from President Trump and lawmakers.

Staff at the Securities and Exchange Commission are looking at whether Libra’s structure effectively makes it an exchange traded fund, according to people familiar with the matter. If the SEC decided that Libra’s design makes it an ETF, Facebook would need the regulator’s approval to launch the project.

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