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FSA, Facebook's Libra “is not likely to be a crypto asset”

HOME> News> FSA, Facebook’s Libra “is likely not to be a crypto asset”


Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of technologies and applications of distributed ledger technology.

It turned out that Japan’s FSA sees the cryptocurrency currency ” Libra ” of Facebook scheduled for launch in 2020 as “it is highly likely not to be a crypto asset .”

Under current money settlement methods, cryptographic assets are described as “the legal currency is not or the asset in the legal currency.” Libra, on the other hand, is backed by baskets such as the US dollar, the euro, the pound sterling, and the Japanese yen.

Therefore, settlement using Libra is likely to be legally regarded as general money transactions and remittances, and according to a report by the Nihon Keizai Shimbun, banking business with strict entry requirements and up to 1 million yen at a time It is said that it is necessary to register as a mobile remittance business that permits remittances .

Countries around the world have shown a cautious stance on the legal position of Libra.

While France, Germany, and the United Kingdom investigate the impact of the same currency on their economies, there is a growing view that Russia, which promotes strict legislation on cryptographic assets, is unlikely to allow the domestic distribution of Libra. .

Contrary to the cautious movements of governments, Facebook is steadily developing Libra, and earlier this week announced an open job offer for the data science head of the wallet app ” Calibra .”

In addition, Binance, the world’s leading crypto asset exchange, said in an interview with foreign media that “of course we are looking into the Libra consortium’s participation”.

Article Source: Nihon Keizai Shimbun

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Author: Yuya 【Coin Desk News】 – Source Post: http://ceesty.com/w2aEG7

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