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Facebook Cryptocurrency Project ‘Libra Networks’ Opens Office in Switzerland

Facebook has been highly secretive about its recent endeavor with cryptocurrency and blockchain. A more transparent approach could raise speculations in the market. Moreover, the regulations around cryptocurrency and payments have been unclear as well. Recently, the U.S. Senate Banking Committee sent an open letter to Founder Mark Zuckerberg, demanding the details about its cryptocurrency project: Libra.


Furthermore, according to the press release by Reuters, the chief executives of Facebook’s subsidiaries WhatsApp, Instagram and Messengers have been under regulatory scrutiny over privacy issues.

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