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New Bill Would Put Facebook’s Libra Stablecoin Under US Securities Law

Published 11/21/2019, 12:20 PM
Updated 11/21/2019, 02:01 PM
New Bill Would Put Facebook’s Libra Stablecoin Under US Securities Law

American lawmakers have reportedly introduced a bill aiming to put Facebook’s Libra under the jurisdiction of the Securities and Exchange Commission (SEC). Two Texas representatives, Sylvia Garcia and Lance Gooden, have proposed legislation that would put even more regulatory scrutiny on Facebook’s not-yet-launched Libra stablecoin and related projects, CNBC reports Nov. 21.

The bipartisan team of the House Financial Services Committee introduced the bill today, speaking at a committee hearing on the role of big data in financial services.

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