Mark Zuckerberg flexes under regulators, proving the harmlessness of its GlobalCoin

Mark Zuckerberg flexes under regulators, proving the harmlessness of its GlobalCoin

The giant social networking Facebook is negotiating with the Commission on trade commodity futures U.S. (CFTC) about the future of their crypto currency GlobalCoin. About this newspaper Financial Times, citing a statement by the head of the regulator.

The Chairman of the CFTC and Christopher Giancarlo said that the talks have only begun. He noted that the regulator wants to better understand new product and to understand whether stabilin from Facebook, known as GlobalCoin, potentially may be subject to regulatory powers of the CFTC. As the CFTC monitors the futures and derivatives any financial instrument that is associated with GlobalCoin is likely to be monitored by the Commission.

According to media reports, Facebook CEO mark Zuckerberg held talks with officials of the U.S. Treasury and Governor of the Bank of England mark Carney. In addition, representatives of the social network actively meet with providers of money transfer such as Western Union to allow people without Bank accounts faster to send money. But mark Zuckerberg went even further — he consulted his old enemies, twins Tyler and Cameron Winklevoss.

Undisguised desire Facebook to demonstrate to regulators its humility is a clear sign that the company strives to achieve maximum compliance. By any means. This is further emphasized by the fact that Zuckerberg came to Winklevosses who own cryptocurrency trading platform Gemini. It is known that was strictly adjusted and now has no problems with regulatory authorities.

While the CFTC has not voiced any clear position in relation to tablconv, the Chairman of the Commission, who represent the community as a “Crypto-Pope” is well known for its supportive attitude to the industry. For example, it owns the words that “cryptocurrency is here to stay” and that 2/3 of Fiat currencies “are not worth the paper on which they are printed”.

Regardless of whether GlobalCoin Facebook fits in the regulatory rules of the CFTC or any other authority, there are still concerns that stabilin from Zuckerberg still fail.

The giant of social networks some basic concepts of cryptocurrency — as the moon on a tractor. After all, cryptocurrency inherently has to be mathematically secure, peer-to-peer disruptive technology operating as a decentralized form of financing. None of these words can not be put next to the word Facebook, do not palter.

Additional concerns relate to the fact that the user base of the giant is actually the wrong target group for the use of cryptocurrencies. A recent report from research company Diar has been said that the social network, which mostly are retired and teenagers who simply will not be able to promote such an innovative product as a digital currency.

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