Facebook’s Libra Stumbles Upon Another Regulatory Scrutiny

Social media giant, Facebook is far from overcoming the opposition and difficulties posed by the announcements of its global cryptocurrency project, Libra. And now, the UK financial regulators seem to be the next stumbling block!
Synergistic regulators
The United Kingdom Treasury in collaboration with the Bank of England and other major UK’s financial regulators are using synergistic opinions to scrutinize Facebook’s newly revealed cryptocurrency project, Libra.
The CEO of the United Kingdom’s Financial Conduct Authority (FCA), Andrew Bailey, said on Tuesday,
“we are engaged with the Treasury and the Bank of England on it,

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