Facebook’s Libra could come under some existing rules – watchdog

LONDON: Existing securities rules could apply to “stablecoin” digital currency initiatives such as Facebook’s Libra project to help realise its benefits, global securities watchdog IOSCO said on Monday as policymakers examine whether new regulation is needed.

The watchdog, made up of securities regulators from across the world, including the United States, Europe and Japan, said an assessment of stablecoins found they can potentially offer benefits as well as pose risks.