Facebook attempts to address concerns expressed by regulators on the original proposal
The tax problems with this proposal identified in our client briefing on Libra 1.0 remain unresolved.
Facebook Libra
Libra: Already a victim of fraud
According to the Facebook model, you steal a little and they bank the ad revenue.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Facebook’s Libra seeks payment system licence from Swiss regulator
The association also submitted a request for a ruling to clarify its regulatory status.
Libra cryptocurrency users face taxing problem
It is not clear how Facebook intend to solve this problem.
