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Systems

Portugal Cautious About Risks Posed by Facebook’s Libra

“Portugal’s Secretary of State for Finance raised concerns about Facebook’s digital currency Libra on Friday, stating that it should not circulate until the risks it could pose for the financial system are addressed. “It is clear from the outset that it is a high-risk phenomenon with systemic implications,” Ricardo Mourinho Felix said at a conference. “It is essential that no ‘stable currency’ project – like Libra – is launched until all concerns have been duly addressed.””