In “Despite Critics, Facebook Plunges into Virtual Currency” (Compliance Week19 June 2019), Gabe Hidalgo, managing director in K2 Intelligence’s Regulatory Compliance practice, shares his thoughts on Facebook’s latest initiative to launch the cryptocurrency Libra. In discussing how this development will impact the regulatory landscape, Gabe notes, “Key players like Visa and MasterCard have historically been risk-averse institutions and have avoided dipping their toes in crypto, which makes the partnership with Facebook all the more significant. Having strategic partners’ backing of Libra can help propel its authority and scale in the market and is one reason why this platform has appeal to major players in the space.”

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