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Could the government effectively regulate/curtail libra by essentially telling Facebook's financial partners like Visa, Mastercard, PayPal, Stripe, etc that the
by julianozen 7y ago
Could the government effectively regulate/curtail libra by essentially telling Facebook's financial partners like Visa, Mastercard, PayPal, Stripe, etc that they risk losing their licenses by promoting/handling Libra?
- elliekelly 7y agoIn theory maybe, but I don’t think you’d find a politician willing to risk their reputation to pull the plug on Visa. Not only would it be a major blow to the economy but it would be a giant pain in the ass for their constituents. When’s the last time you went into a bank to take out cash? When’s the last time you had cash in your wallet at all? Visa wouldn’t be the biggest loser in that scenario, the politicians/regulators would.
- carlosdp 7y agoThey don't have to go that extreme, they could just tax Libra coins like securities. That would create a huge burden on their use as currency in the US.