Is Facebooks Libra Accidentally an ETF?
Facebooks upcoming digital coin, Libra, may be organized as an ETF, suggests analyst Dave Nadig. He based his observation on a section of the Libra white paper, where the interaction of users and coin sellers is described:
“Users will not directly interface with the reserve. Rather, to support higher efficiency, there will be authorized resellers who will be the only entities authorized by the association to transact large amounts of fiat and Libra in and out of the reserve. These authorized resellers will integrate with exch…
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