Global financial leaders are wary of its arrival and a group of US lawmakers have urged Facebook to put their plans on hold. But what is Libra?
The G7 ministers said this week they want to clamp down on cryptocurrencies like Facebook's Libra, arguing new and untested digital coins risk destabilizing international monetary systems. But can they and should they?
Facebook's plan to introduce its own cryptocurrency has come under sharp criticism from many countries. The social media giant announced in June that it would roll out a new digital currency, called Libra, from 2020.
US lawmakers have grilled Facebook on its ambitious plan to create a financial ecosystem based on a digital currency called Libra. The project is viewed with skepticism in many countries, including Germany.
The world's biggest social network has indicated that it wants to move into the payments industry by launching its own cryptocurrency next year. DW looks at what's behind Facebook's not-so-cryptic plan.
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