Facebook should not launch its global digital currency Libra until proper regulations are in place to handle the potential risks, the Group of Seven said Thursday.

 Facebook's digital currency alliance lost more companies on Friday amid heavy criticism from regulators around the world on the planned Libra global cryptocurrency.

 Facebook on Wednesday was dealt a major blow in the EU's top court, which ruled that national courts in Europe can order online platforms to remove defamatory content worldwide.

Facebook said on Friday it suspended "tens of thousands" of apps on its platform as a result of its review on privacy practices launched following the scandal involving Cambridge Analytica.

"I want to be absolutely clear: in these conditions, we cannot authorise the development of Libra on European soil," Bruno Le Maire said at the opening of an OECD conference on virtual, cryptocurrencies.

Countering richest Indian Mukesh Ambani, Facebook Inc on Thursday said data is not the new oil, and countries like India should allow its free flow across borders instead of attempting to hoard it as a finite commodity within national boundaries.

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An unidentified person has been booked for allegedly creating a fake Facebook profile of former cricketer Sandeep Patil and trying to seek through it phone numbers of well-known personalities, police said on Tuesday.