BoT to discuss Libra with Facebook

BoT to discuss Libra with Facebook

Siritida Panomwan, BoT assistant governor for payment systems policy. (File photo)
Siritida Panomwan, BoT assistant governor for payment systems policy. (File photo)

The Bank of Thailand will enter into talks with Facebook about the social media giant's proposed cryptocurrency called Libra.

Facebook had requested discussions with the central bank, which is still reviewing the proposed schedule,  Siritida Panomwan, assistant governor for payment systems policy, said on Friday.

The central bank has set up a team to study Facebook's white paper on its proposed stable coin, she said.

The team comprises representatives from payment, foreign exchange rate and legal units.

"Consumer benefits and risks incurred from the digital currency are the central bank's main focus," Ms Siritida said.

"We will also study the currency model, mechanism, security and consumer protection, in case any problems crop up."

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