Facebook’s Libra cryptocurrency may be steamrolled in India

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19 Jun 2019

Facebook’s Libra cryptocurrency may be steamrolled in India

Wolfie Zhao
Image credit: Gerard Julien | Getty Images

LIBRA UNBALANCED? Facebook’s rollout of Libra may be steamrolled in India by existing regulatory constraints, reports the Economic Times. Despite cryptocurrency’s precarious standing within local law, the outlet said “Facebook has not filed any application with RBI (Reserve Bank of India) for its cryptocurrency in India,” according to an anonymous source with direct knowledge of the situation. The social media juggernaut told the Economic Times, “We expect Calibra to work on WhatsApp and be available globally.” India has 400 million WhatsApp users, according to Statista.

 

Read Full story here: https://www.coindesk.com/libra-could-be-unbalanced-by-indian-crypto-laws?utm_source=BlockchainBites&utm_medium=Email&utm_campaign=2019-06-21

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