Facebook Libra: Facebook posted yesterday his plans for the new Libra cryptocurrency and that 2020 is expected to be released.
Facebook's digital currency Libra is expected to be integrated into apps and services of the company and compete with Bitcoin, but US lawmakers aren't all that excited about the idea. So Congresswoman Maxine Waters, of the House Financial Services Committee, asked Facebook to stop the specific project.
"With the announcement that it plans to create a new digital currency, Facebook continues to expand uncontrollably and extends its reach to the lives of its users," Waters said in a statement.
"Given the company's troubled past, I urge Facebook to agree to a moratorium on any move to develop encryption until Congress and regulators have a chance to address these issues and take action."
He also asked Facebook executives to come to the Commission to table on these issues.
Facebook is reportedly working with 27 companies to launch Libra, which is expected to launch alongside a new digital wallet (wallet) που θα λειτουργεί με το Messenger και το Whatsapp. Οι χρήστες θα μπορούν να χρησιμοποιούν το ψηφιακό νόμισμα Libra για να αγοράζουν productthe, to send money or make donations.
"The cryptocurrency market does not currently have a clear regulatory framework to provide strong protection for investors, consumers and the economy," Waters added.
Regulators should see Facebook move as a wake-up call to take seriously their concerns about privacy, national security, cyber-dangers, and the trading risks created by digital coins.
Referring to her scandal Cambridge Analytica Waters said the largest social network repeatedly violates the privacy and security of users data που κατέχει από δισεκατομμύρια people.
Waters has the support of Patrick McHenry, a top Republican at the House Financial Services Commission, who also asked for a hearing about the Libra.
“Αν και υπάρχουν υποσχέσεις για αυτή τη νέα technology στην προώθηση της χρηματοπιστωτικής ενσωμάτωσης και για ταχύτερες πληρωμές, ιδιαίτερα στον αναπτυσσόμενο κόσμο, γνωρίζουμε ότι υπάρχουν πολλά ανοικτά ερωτήματα ως προς το εύρος και το μέγεθος του project αλλά και τον τρόπο με τον οποίο θα πρέπει να συμμορφωθεί με ένα πλαίσιο “, Reported in a letter to Congress.
The Libra digital coin has also come to the attention of legislators in Europe, demanding tougher arrangements with French Finance Minister Bruno Le Maire, who according to Bloomberg said the digital currency should not be considered a substitute for traditional currencies.
"It is certain that the Libra will become a dominant currency," Le Maire said in an interview with Europe 1 radio.
"This cannot and should not happen."
