CFTC is in early talks with Facebook regarding its GlobalCoin
- The social media giant, Facebook is in early stage talks with the CFTC regarding its stable coin.
- Facebook is keen to understand whether its coin will fit into the CFTC’s regulatory remit.
The social media giant Facebook is reportedly in talks with the regulator, CFTC, regarding their cryptocurrency, GlobalCoin. Reports are suggesting that they have initiated talks, but still early days at present.
Christopher Giancarlo, the Chairman of the CFTC, said that the conversation is still within early stages. Detailed that the goal for these talks is to understand whether Facebook’s stable coin, ‘Globalcoin’ will potentially fit within the CFTC’s regulatory remit.
He said:
We’re very interested in understanding it better. We can only act on an application, we don’t have anything in front of us.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
