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Facebook : Fed to hold Facebook's crypto coin to 'high' bar - Powell

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06/25/2019 | 03:08pm EDT

(Reuters) - The U.S. Federal Reserve is looking carefully at Facebook's planned cryptocurrency Libra, and will hold it to high standards regarding protecting consumers and regulation, Federal Reserve Chairman Jerome Powell said on Tuesday.

"Libra’s a new thing; we are looking at it very carefully," Powell said in response to an audience question after a talk at the Council on Foreign Relations in New York. "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."

Facebook said last week it wanted to expand into payments and launch its own coin, Libra, by next year.

"Authority for overseeing Libra is going to be in a number of places, but I think that the big picture is we are going to be looking really carefully at it," said Powell, whose cautious remarks echoed those of other financial regulators around the world about the possible new currency.

(Reporting by Ann Saphir; Editing by Chizu Nomiyama; Editing by James Dalgleish)

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Financials (USD)
Sales 2019 69 410 M
EBIT 2019 24 490 M
Net income 2019 20 545 M
Finance 2019 49 674 M
Yield 2019 -
P/E ratio 2019 28,4x
P/E ratio 2020 22,0x
EV / Sales2019 7,67x
EV / Sales2020 6,14x
Capitalization 582 B
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Mean consensus BUY
Number of Analysts 49
Average target price 222,67  $
Last Close Price 203,84  $
Spread / Highest target 34,9%
Spread / Average Target 9,24%
Spread / Lowest Target -41,1%
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Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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