Facebook's Libra Unveiling Spurs Regulatory Uncertainty

By Philip Rosenstein (June 20, 2019, 10:10 PM EDT) -- Facebook's new cryptocurrency Libra looks to become the most widely used digital token in the world when it launches in 2020, raising questions about systemic risks it might pose and how financial regulators will act.

Early reactions from U.S. regulators and legislators about the impact Libra could have on the monetary system, as purchasing power threatens to migrate out of dollars and into the cryptocurrency, have been mixed.

U.S. Federal Reserve Chairman Jerome Powell told reporters Wednesday that he didn't expect Libra to affect the ability of central banks to carry out monetary policy, but he acknowledged the risks it could...

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