Facebook plans to roll out its new cryptocurrency in about a dozen countries by the first quarter of next year, the BBC reported. Facebook CEO Mark Zuckerberg met with Bank of England governor Mark Carney last month to discuss the cryptocurrency, GlobalCoin. Facebook also has sought input from the U.S. Treasury Department about regulatory issues associated with the token, according to the BBC.
Regulatory pressure could hinder Facebook’s crypto efforts. But the fact that Mr. Zuckerberg met personally with Mr. Carney suggests Facebook is trying hard to get officials in various countries to sign off on its plans. U.S. lawmakers have already sent Mr. Zuckerberg a letter asking questions about how the token will comply with regulations, and scrutiny will likely only intensify from here.