Facebook’s Currency Libra Faces Financial, Privacy Pushback

Facebook’s currency Libra faces financial, privacy pushback
Facebook’s Currency Libra Faces Financial, Privacy Pushback
Media and guests tour Facebook's new 130,000-square-foot offices, which occupy the top three floors of a 10-story Cambridge, Mass., building, on Jan. 9, 2019. Elise Amendola/AP Photo
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SAN FRANCISCO—Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners.

Just hours after the social media giant unveiled early plans for the Libra cryptocurrency, French Finance Minister Bruno Le Maire insisted that only governments can issue sovereign currencies. He said Facebook must ensure that Libra won’t hurt consumers or be used for illegal activities.