FT: U.S. Regulator Negotiating with Facebook about Company's Stablecoin
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3 June
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The U.S. Commodity Futures Trading Commission (CFTC) is in talks with Facebook about its future stablecoin, the Financial Times (FT) reported yesterday.

The magazine, citing the regulator's chairman, J. Christopher Giancarlo, has revealed that the social network is negotiating with the CFTC in order to pave the way before the launch of the GlobalCoin.

Giancarlo has said that the CFTC is interested in the project, however, he has confirmed the regulator has not yet received any formal request from Facebook.

The social network's stablecoin is aimed to allow users from all over the world to send and receive money across borders and to make online purchases.

Facebook announced its plans to release its own crypto in May last year. The company then established a special division to work on its development.

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