Facebook co-founder: Libra currency could give firms excess power

Chris Hughes says involvement of private companies is threat to autonomy of nation states

One of Facebook's co-founders has warned the social network's plans for a digital currency called Libra could allow corporations involved in the scheme to wield power over nation states.

Chris Hughes, whose role in the early days of Facebook has given him a net worth estimated at $430m (340m), said global regulators should intervene to slow the progress of the cryptocurrency.