fbpx

CFTC Talks with Facebook Crypto!  The Commodity Futures Trading Commission is in talks with Facebook over its upcoming Stablecoin Launch, the Financial Times (FT) reported on June 2nd, 2019.

J. Christopher Giancarlo, the Chairman of the CFTC, was cited in the publication. They revealed that Facebook is attempting to smooth out the regulatory landscape ahead of the asset, currently called “GlobalCoin”. It’s rumored to go live next year.

“We’re very interested in understanding it better,” the FT quoted Giancarlo as saying.  He also confirmed, according to FT, that at present, no formal request for regulatory clearance had appeared.

“We can only act on an application, we don’t have anything in front of us,” he said.

Facebook caused quite a stir when it rumors of its stablecoin released a few months ago.  With its business with sister companies Whatsapp and Instagram, Facebook has the potential to bring Cryptocurrency to millions upon millions of users.

If successful, GlobalCoin, a stablecoin many wouldn’t think about using, would however help catapult mass adoption into the mainstream and into the public spotlight.  Cryptocurrency would also see a large boon.

What do you think?  Do you think GlobalCoin, the supposed-dubbed stablecoin of Facebook, will help push mass adoption?  Let us know on our Facebook page!

IF YOU DO NOT AGREE WITH ANY TERM OR PROVISION OF OUR TERMS AND CONDITIONS, PLEASE EXIT THE SITE IMMEDIATELY. PLEASE BE ADVISED THAT YOUR CONTINUED USE OF THIS SITE OR THE PRODUCTS OR INFORMATION PROVIDED THEREBY SHALL INDICATE YOUR CONSENT AND AGREEMENT TO THESE TERMS AND CONDITIONS.

Crypto Traders Pro may express or utilize testimonials or descriptions of past performance, but such items are not indicative of future results or performance, or any representation, warranty or guarantee that any result will be obtained by you. These results and performances are NOT TYPICAL, and you should not expect to achieve the same or similar results or performance. Your results may differ materially from those expressed or utilized by Crypto Traders Pro due to many factors.