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Heading in to the G20 summit, Facebook is on notice from powerful regulators including the Fed chief that its ambitious plans for a global crypto-currency face piercing scrutiny. The Libra coin is endorsed by a heavyweight consortium of companies, and could see Facebook leverage its two billion-plus users to bring crypto-money out of the shadows and into the mainstream. But Federal Reserve chairman Jerome Powell, addressing the launch for the first time on Tuesday, added his considerable voice to warnings heard already from regulators in Europe and from US lawmakers. "We're looking at it very carefully," Powell told an event sponsored by the Council on Foreign Relations in Washington. "Given the possible scale of it, I think that our expectations from a consumer protection standpoint, from a regulatory standpoint, are going to be very, very high," he said. Facebook promises the new currency, launching next year, will slash transaction costs and bring more services to people without ...

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