FIRST AIRED: June 18, 2019

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00:00:00
Facebook wants to get into a new line of business crypto currencies the world's biggest social network announced Tuesday plans to roll out a digital point called libra which it hopes to have up and running in the first half of next year Facebook is set up a network with twenty eight partners including MasterCard visa PayPal and over two large libra and a digital wallet called Kylie brought that will allow users to spend the digital point to Facebook messenger and whatsapp but they're already privacy and safety concerns links to Facebook's attempt to try to go beyond social networking and moving to the commerce and global payments its track record is far from stellar when it comes to protecting consumer data and privacy drawing outrage from politicians regulators consumer groups and privacy advocates and now it was to play a role in the part of consumers lives the needs to be the most secure financial transactions how global regulators will respond is not yet clear but this plan could bolster critics who say Facebook with its more than two billion users worldwide is too big and should be broken up investors however like Facebook's push into digital money to rival bit coin and sent the stock higher in Tuesday trade