Another bad news comes for Facebook Libra, even the banks seem to want to abandon the stablecoin, due to the difficulty it has in meeting all the anti money laundering requirements set by the financial regulators.
This is what we read from Financial Times, which contains the words of the CEO of ING Hamers. According to him, in fact, it is possible to take measures and also to abandon the client, and not accept him, therefore those are the issues that must be addressed. We are such an institution regulated and great that we don't want to risk anything. We said that we will look at Libra and see how it will develop in the next period.
Alla domanda carried out by the Financial Times, that the launch of Libra could be increasingly difficult if it continues to finance Facebook, the CEO of ING responded positively. In fact, according to him, all internationally operating banks also play a very important role in gatekeeper within the financial system. For this reason, it becomes very difficult to have a company that you suspect has to do with money laundering as a customer.
Facebook spokesman: we will find an agreement with the regulators. IBM: worried about money laundering.
It is no coincidence that in the face of these concerns, one of the Facebook spokesperson he replied that from the beginning we chose to take the time to do things well, to guarantee the financial infrastructure, to speak with the institutions, to comply with all the rules. Furthermore, confirms that the stablecoin it will not be put on the market by the Facebook company, but by the Libra Association, which in the meantime will have overcome the main concerns of the various regulators and obtained all the necessary approvals.
The possible use of the Libra stablecoin to launder money, however, remains one of the main concerns of regulators on the use of Libra, in particular for the use in order to support illicit activities and money movements protected from any type of control.
Finally, always the Financial Time, says that not only is ING worried about this problem, but there are also other financial institutions that raise the same doubts and think that the risk of money laundering is more than real.
