Facebook Crypto May Not Be Available in India
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June 21, 2019
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Facebook announced on June 18 Libra, its new crypto, in addition to its digital wallet Calibra. At that time, the social network reported that its cryptocurrency would be integrated into Messenger and WhatsApp messaging applications all over the world.

However, it looks like that some countries are not too enthusiastic about the idea, especially those in which the situation of digital assets is uncertain.

A source close to the Reserve Bank of India (RBI) has reported Facebook's future crypto could face problems in the country, since, at the moment, the social network has not requested any authorization from any Indian regulatory authority.

Another anonymous source has stated Calibra could be excluded from markets where "cryptos are banned or Facebook is not allowed to operate."

The fact that Facebook's crypto may face problems in India is not good news for the social network, since, according to Statista, the country has over 400 million WhatsApp users.

The aim of the Libra initiative is to provide access to commercial and financial services online to over a billion people around the world who do not have access to such services. This would include Indian citizens, since the vast majority of them do not have access to bank services. According to The Times of India, the country has the second-largest unbanked population in the world.

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