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Australian Financial Regulator Could Potentially Oversee Facebook's Calibra Wallet
Summary: The Australian Prudential Regulation Authority (APRA) is looking to supervise stablecoin projects, such as Facebook's controversial stablecoin Libra. According to an official proposal to the Senate published on Jan. 20, APRA submitted a potential regulatory framework devoted to fintech and regulatory technology (regtech) encompassing topics ranging from digital wallets to data protection. In the proposal, APRA says ...
The Australian Prudential Regulation Authority (APRA) is looking to supervise stablecoin projects, such as Facebook's controversial stablecoin Libra.
According to an official proposal to the Senate published on Jan. 20, APRA submitted a potential regulatory framework devoted to fintech and regulatory technology (regtech) encompassing topics ranging from digital wallets to data protection.
In the proposal, APRA says that it would oversee digital currency wallets which are commonly used for payments and value storage and would exclude wallets that are only facilitate payments, for example Apple Pay.
By Ramsey Baker
Tags: Apple Pay,APRA,Calibra,Libra,Senate
Link: Australian Financial Regulator Could Potentially Oversee Facebook's Calibra Wallet [Copy]
