Yahoo Finance: Facebook warned against ‘move fast and break things’ approach to Libra

 

One of Britain’s top regulators has warned Facebook against adopting a “move fast and break things” approach to its new cryptocurrency project Libra. “Historically, this may have been a sector that has lived by the mantra of ‘move fast and break things’, but the issues raised here require deep thought and detail,” Chris Woolard, the Financial Conduct Authority (FCA)’s executive director of strategy and competition, said in a speech at Cambridge Judge Business School. “When it comes to other people’s money, or safeguarding against terrorist financing, corner cutting is simply not an option.”

Read the full article [ca.finance.yahoo.com]