19 Jun 2019

Facebook launches crypto-currency: What does it mean?

From Morning Report, 8:18 am on 19 June 2019

Facebook has announced it will launch a new crypto-currency pushing the price of BitCoin up.

Bitcoin slumped in 2018 but has seen a fresh surge as interest from companies like Facebook and other social media platforms buoy the digital currency.

Alex Sims of Auckland University's Department of Commercial Law says Facebook opening its own cryptocurrency will have a huge effect on the market.