French Central Bank: Facebook’s Libra May Need Banking License

The Bank of France Governor said that Facebook’s Libra must comply with anti-money laundering regulation and seek banking licenses if it offers banking services.

Bank of France Governor Francois Villeroy de Galhau said that Facebook’s Libra stablecoin must comply with anti-money laundering regulation and seek banking licenses if it offers banking services, Reuters reports on June 25.
Per the report, while Villeroy admitted during an interview with French magazine l’Obs that there was room to improve cross-border money transfers. He also pointed out that Facebook’s libra project has

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