Facebook’s Libra could give birth to a ‘shadow banking’ system, claims United States’ Federal Advisory Council

At this month’s Federal Advisory Council meeting, the United States’ biggest banks (including CEOs Rene Jones of M&T Bank Corp., Beth Mooney of KeyCorp, and Brian Moynihan of Bank of America Corp) were asked by the Federal Reserve about their thoughts on Libra, the stablecoin proposed by social media giant Facebook. And, according to a […]

The post Facebook’s Libra could give birth to a ‘shadow banking’ system, claims United States’ Federal Advisory Council appeared first on AMBCrypto.