Singapore's central bank seeks more information on Facebook's Libra

Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), speaks at the Singapore Fintech Conference in Singapore, on Wednesday, Nov. 16, 2016. Photographer: Ore Huiying/Bloomberg

The Monetary Authority of Singapore has held discussions with Facebook Inc. about its plans for a new cryptocurrency, though the regulator still sees significant obstacles in the way of the social media firm’s project.

Despite the potential benefits of Libra, concerns raised about the way it would function are “not trivial,” MAS Managing Director Ravi Menon said Thursday at a media briefing.

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