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Facebook's Libra overhauls cryptocurrency model, makes concessions to regulators

In an effort to win regulatory approval, Facebook’s upcoming cryptocurrency Libra will now be linked to individual national currencies as well as overseen by global watchdogs.

The Libra Association recently announced that it will now offer “stablecoins” that are backed by single currencies such as a Libra dollar or Libra Euro and a redesigned digital token based on these coins.

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