Bloomberg Law
Jan. 20, 2020, 11:04 AM

Libra Says It Can ‘Raise the Bar’ in Fighting Financial Crime

Hugo Miller
Hugo Miller
Bloomberg News

Facebook’s planned cryptocurrency Libra can deploy new technologies that will lift its ability to fight financial crime, the project’s operating chief said as he seeks to win the backing of regulators in Switzerland and the U.S.

“We are proposing several technological solutions that we feel would be able to raise the bar and bring the blockchain to a level that is at least comparable with the existing financial systems in terms of fighting financial crime,” Libra Association Chief Operating Officer Bertrand Perez said at a Geneva conference on Monday.

Facebook announced plans to launch a stablecoin, so-called because it would ...

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