Facebook's development of a cryptocurrency suitable for general use and online purchases has been branded a "serious concern" by US regulators.
Known as Libra, Facebook's aspirations in the cryptocurrency realm involves the creation of a virtual coin backed by major financial institutions and regulated through a blockchain developed by Facebook subsidiary Calibra.
In the past, cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have been associated with underground trading, anonymous trades, and a turbulent marketplace in which the value of a digital coin can skyrocket or spiral at a moment's notice.