Libra is facing mounting scrutiny from international regulators demanding more detail on Facebook's fledgling crypto project:
intentions to align with these new standards. As such, we anticipate a more coordinated global approach to regulating companies operating in the crypto space to emerge sooner rather than later — not least as they look to deal with Facebook's ambitions.
The bigger challenge for regulators, however, goes beyond crypto and requires them to figure out how to ensure the likes of Facebook don't threaten global financial stability. Big tech firms typically not only have huge user bases but also matching deep pockets, opening the possibility for them to upend the industry entirely.
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