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Facebook Weighs Libra Revamp to Address Regulatory Concerns (1)

March 4, 2020, 2:26 AM

Facebook Inc. and its partners are considering redesigning the Libra cryptocurrency project so that the network accepts multiple coins, including those issued by central banks, in an effort to woo reluctant global regulators and rebuild momentum for the plan.

When Facebook unveiled Libra, it said it intended to create a single global digital currency. Anyone, especially the 1.7 billion people who have no bank account, could send money anywhere in the world at little cost, as easily as sending a text.

Eight months later, after the idea ran into a wall of opposition, Facebook and the Libra Association, the ...

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