Japan to block Facebook’s Libra until the full legal compliance

Bank of Japan Deputy Governor Masayoshi Amamiya, said in a statement that Facebooks’ cryptocurrency called Libra, must comply with regulations on money laundering and risk management. Facebook is working on a global cryptocurrency that will be introduced into the companies large social media networks Instagram and Facebook, and their messaging platform app WhatsApp. Japan regulators expressed concerns that Facebook’s cryptocurrency will have significant impact on Japan currency and needs to be regulated within the existing laws.