Original article by Michael Roddan
The Australian – Page: 1 & 8 : 6-Nov-19
Austrac is among eight Australian financial regulators that will undertake an investigation into plans by social media giant Facebook to launch a cryptocurrency. The regulators are expected to use their formal powers to compel Facebook to disclose details of its proposal for the Libra digital currency. The concerns about Libra are believed to include its potential impact on national security, privacy and financial markets.
FACEBOOK INCORPORATED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. OFFICE OF THE AUSTRALIAN INFORMATION COMMISSIONER