United States regulator the Commodity Futures Trading Commission (CFTC) is in talks with Facebook about its upcoming stablecoin launch, the Financial Times (FT) reported on June 2.
Citing chairman J. Christopher Giancarlo, the publication revealed that Facebook is attempting to smooth out the regulatory landscape ahead of the asset, currently dubbed GlobalCoin, allegedly going live next year.
currently they are under a lot of pressure from parliament. There is a news that Facebook may have to pay a fee of up to $ 5 billion and must accept some of the parliamentary information security conditions.
It seems that Libra is experiencing many disadvantages during this period. I suspect they will terminate this project.