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Facebook’s cryptocurrency play was back in the news at the end of November with reports that it would finally debut in January, following expected approval by the Swiss Financial Market Supervisory Authority. Since Facebook announced its original crypto plans in June 2019, it’s gone through a name change, cycled through members and watered down its ambitions. But concerns remain about Facebook’s dominance in yet another industry.
Most important, if and when Diem does make its debut next month, it will do so in the form of a single stablecoin tied to the U.S.