This is the part where they reveal how they plan to negotiate with regulators:
"At the core, we believe that a network that helps move more cash transactions — where a lot of illicit activities happen — to a digital network that features regulated on and off ramps with proper know-your-customer (KYC) practices, combined with the ability for law enforcement and regulators to conduct their own analysis of on-chain activity, will be a big opportunity to increase the efficacy of financial crimes monitoring and enforcement"
In other words: let us do Libra and we'll help you win the war on cash.
The biggest blow on privacy in the world's history, brought to you buy Facebook.
"At the core, we believe that a network that helps move more cash transactions — where a lot of illicit activities happen — to a digital network that features regulated on and off ramps with proper know-your-customer (KYC) practices, combined with the ability for law enforcement and regulators to conduct their own analysis of on-chain activity, will be a big opportunity to increase the efficacy of financial crimes monitoring and enforcement"
In other words: let us do Libra and we'll help you win the war on cash.
The biggest blow on privacy in the world's history, brought to you buy Facebook.