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When was the last time you used an ETF to pay for Uber Eats? Libra is not an ETF. Clearly it has different functionality and will be used differently by both F
by mgraczyk 7y ago
When was the last time you used an ETF to pay for Uber Eats?
Libra is not an ETF. Clearly it has different functionality and will be used differently by both Facebook and users. It would be more accurate to say that the risk profile should look to account holders like an ETF rather than a bank.
- miohtama 7y agoThe 1000 Libras question is if a currency basket backed asset is a security, commodity and such - is such a bearer note allowed? Then you might be in the domain of securities transfer agents, not money transmitters. You would need to pay capital gains tax on every transaction.
- bduerst 7y agoNever, because it's kind of absurd to create an ETF for user payments, which is kind of to GP's point. Unless of course you stand to benefit from the transactional data, which I'm not convinced this Calibra isn't a trojan horse for Facebook to get the data from.