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Insofar as this rhetorical framework is concerned, they're actually sanctioned, not unsanctioned. Banks and credit issuing institutions are heavily regulated a
by im_down_w_otp 7y ago
Insofar as this rhetorical framework is concerned, they're actually sanctioned, not unsanctioned.
Banks and credit issuing institutions are heavily regulated and have a variety of criteria that must be met to legally operate in that capacity.
- elliekelly 7y ago> Banks and credit issuing institutions are heavily regulated and have a variety of criteria that must be met to legally operate in that capacity. Except the banks and other regulated financial institutions involved in Libra aren’t the entities that will be issuing Libra coin. A separate (I believe non-profit) entity, Libra, is. The financial institutions have “donated” $5 million and will have the ability to appoint a seat on Libra’s board. Do you know which regulator will oversee that entity? Do you know what regulations will apply to that entity? I certainly don’t.
- im_down_w_otp 7y agoWhat are you objecting to exactly? As near as I can tell, we're in agreement about the situation.