Facebook discusses its crypto stablecoin idea with CFTC
Moving forward with its crypto stablecoin initiative, Facebook has ignited a discussion with the US Commodity and Futures Trading Commission (CFTC).
According to the Financial Times, CFTC Chairman Christopher Giancarlo confirmed that the agency held “very early stages of conversations” with Facebook, news portal Coin Desk reported on Sunday.
The goal of the meeting was to better understand if Facebook’s crypto stablecoin could potentially fall under the CFTC’s regulatory remit.
“We’re very interested in understanding it better,” Giancarlo was quoted as saying in the report. “We can only act on an application, we don’t have anything in front of us.”