Jaret Seiberg, a policy analyst at investment banking firm Cowen, said Walmart's future cryptocurrency could be treated much more benevolently by regulators than Facebook's Libra, Bloomberg reported yesterday.
According to the news source, Walmart's crypto, a project firstly announced just 4 days ago, could be pretty attractive to Democrat lawmakers interested in finding an alternative for citizens who do not have access to bank services.
According to the analyst, one of the main differences between Libra and Walmart's cryptocurrency is its scope, since while the social network's stablecoin is intended to be used by users from all over the world,Walmart's would focus the retailer's customers.
Even though regulators seem to have a more positive attitude towards Walmart's crypto, it will not be automatically approved by the Congress, as it is a threat to small banking institutions.
The retailer does not plan to release its cryptocurrency in the near future.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.