Fed chair: Facebook’s cryptocurrency libra has a lot of problems that need solving

Fed chair: Facebook's cryptocurrency libra has a lot of problems that need solving

Bildkälla: Trijo News

Jerome Powell is chairman of the American central bank Federal Reserve. Now, he comes out as critical of Facebook’s cryptocurrency libra.


Facebook’s cryptocurrency libra, which if everything goes according to the social media giant’s plans will be released next year, has faced a lot of opposition from lawmakers.

Now another economic policy heavyweight is critical of libra.

It’s Jerome Powell, chairman of the Federal Reserve, who during a congressional hearing says Facebook has a lot of problems to solve before libra is released.

“Libra raises many serious concerns regarding privacy, money laundering, consumer protection, and financial stability. These are concerns that should be thoroughly and publicly addressed before proceeding”, Jerome Powell says to Congress, Cointelegraph reports.

Asks for help

The statement comes after David Marcus, head of Facebook’s crypto department Calibra, on Tuesday asked authorities for help in solving the problems surrounding libra.

The question is whether the politicians will listen to Facebook, or if they will do everything they can to stop the project.

Follow Trijo News on FacebookTwitter and Instagram.

Följ Trijo News på FacebookTwitterInstagram och Youtube.

Dags att börja spara i bitcoin?

Hos Trijo får du Sveriges lägsta avgifter och går från registrering till bitcoin i plånboken på under 60 sekunder.

Andra nyheter

Kopia av Trijo News bild (7)
Kopia av Trijo News bild (3)
Trijo News bild (2)

Ta del av de senaste nyheterna.