Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Facebook in talks with U.S. derivatives regulator over digital currency plans - FT

Facebook in talks with U.S. derivatives regulator over digital currency plans - FT
FILE PHOTO: A man poses with a magnifier in front of a Facebook logo on display in this illustration taken in Sarajevo, Bosnia and Herzegovina, December 16, 2015. REUTERS/Dado Ruvic/Illustration/File Photo -
Copyright
Dado Ruvic(Reuters)
Text size Aa Aa

(Reuters) – Facebook Inc is in talks with the U.S. derivatives regulator, the Commodity Futures Trading Commission (CFTC), over the social media company’s plans for a digital currency, the Financial Times reported on Sunday.

The regulator is in the early stages of talks with Facebook in an effort to understand whether the company’s plans for digital coin would fall under the CFTC’s scope, the FT reported, citing Christopher Giancarlo, the head of the CFTC.

In May, Facebook set up a financial technology company in Switzerland focusing on blockchain and payments as well as data analytics and investing.

Facebook declined to comment on the FT report.

(Reporting by Ishita Chigilli Palli in Bengaluru; Editing by Peter Cooney)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.