Regulators prepare response to Facebook’s Libra

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Regulators are already drawing up plans for a response to Facebook’s proposed crypto asset, Libra, just a day after the project was officially unveiled.

In a sign authorities are treating the proposals as potentially more serious than earlier crypto-asset launches, Libra drew condemnation from a senior US lawmaker and prompted the Group of Seven to prepare a working group to consider possible actions on so-called stablecoins.

Libra was launched on June 18, and is slated to begin operations in

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