July 24, 2019 / 12:40 PM / a month ago

Mnuchin says Facebook must satisfy regulatory concerns ahead of Libra launch: CNBC

FILE PHOTO: A small toy figure stands on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said in a television interview that Facebook must satisfy regulatory concerns before it launches Libra, its planned cryptocurrency.

“As it relates to Libra, we’ve made it very clear to Facebook before they start this, this needs to be something that passes our regulations,” Mnuchin said in an interview with CNBC.

Reporting by Makini Brice

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