Facebook in talks with US derivatives regulator over digital currency plans: Report
Facebook Inc is in talks with the U.S. derivatives regulator, the Commodity Futures Trading Commission (CFTC), over the social media company`s plans for a digital currency, the Financial Times reported on Sunday.
Facebook Inc is in talks with the U.S. derivatives regulator, the Commodity Futures Trading Commission (CFTC), over the social media company`s plans for a digital currency, the Financial Times reported on Sunday.
The regulator is in the early stages of talks with Facebook in an effort to understand whether the company`s plans for digital coin would fall under the CFTC`s scope, the FT reported, citing Christopher Giancarlo, the head of the CFTC.
In May, Facebook set up a financial technology company in Switzerland focusing on blockchain and payments as well as data analytics and investing.
Facebook declined to comment on the FT report.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.