Australian regulators also oppose the launch of Libra

[mlawson71]

Following the example of the United States and Europe, Australia's financial and consumer watchdogs also expressed their disapproval of Facebook’s cryptocurrency project Libra, as reported by the Australian on Wednesday. As a result, the Libra Association may now have to submit further information on the so-called “stablecoin” before Australian regulators permit a rollout in the country.

The Australian Securities & Investments Commission (ASIC), the Office of the Australian Information Commissioner (OAIC), Austrac, the Australian Competition & Consumer Commission (ACCC), and several other governmental agencies teamed up to come up with a common approach to Lira. However, following a meeting with the company in October, many questions have remained unanswered.