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Facebook-backed digital currency is revamped to address government concerns

Facebook-backed digital currency is revamped to address government concerns

A Facebook Inc. -backed digital currency project is remodeled in a bid to address concerns among U.S. officials that it could be used for money laundering and other illegal purposes. The project, initially known as Libra and renamed Diem last year, is moving to the U.S. after abandoning a bid to secure the sanctions of regulators in Switzerland, its backers said Wednesday.

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