Facebook blockchain lead David Marcus sent a letter to U.S. lawmakers in which he addressed multiple questions asked by the government. Facebook says it will respect consumer privacy and is willing to work together with regulators.
When the U.S. sneezes the rest of the world catches a cold, and this time around the cold has caught up with China. The technology powerhouse is shivering over the threat that Facebook’s Libra could pose on her national cryptocurrency.
Just recently the European Central Bank (ECB) has yet again commented on the Facebook Libra project and now they are saying that “it’s too dangerous” and regulators need to improve the way they work.
Eroded privacy, including mobile one, is the stumbling block of today’s all-around interconnected society. Here’s how blockchain can help create a safer and better environment around the use of mobile phones and the privacy they can provide.
In another attack on the Libra developments, 33 lawmakers have requested Congress to ask Facebook to stop further development on Libra before they answer all their concerns and questions.
Facebook has applied for a cryptocurrency business license. This is done in order for Facebook to operate within the state of New York with their new crypto project – Libra.
Experts say that Facebook’s Libra will probably not reach the billions they claim, and it won’t affect the financial world and stability in general. However, while everyone is talking about Libra, banks are developing their own digital currencies.
The early-access code for Facebook’s Libra cryptocurrency hit GitHub two weeks ago and critics and trollers have taken their aim at the project that has been saved or “starred” by close to 10,000 users.
![Libra: Cryptocurrency By Facebook [Infographics]](https://www.coinspeaker.com/wp-content/uploads/2019/06/libra-cryptocurrency-by-facebook-infographics.jpg)
Libra cryptocurrency announced by Facebook on June 18 may become a fresh breath in the global financial system. Let’s puzzle out the details of the innovative project with the infographics by MrBTC.org.
Judging by recent news, it appears that Binance is in talks with Facebook about either listing Libra or joining the Libra Association. Binance’s CSO, Gin Chao, confirmed that the exchange has had discussions with Facebook about a listing process.
Mark Zuckerberg commented on the newly-launched Facebook’s Libra crypto. He says that Libra Association is an independent organization and Facebook only has one vote in it. That way he emphasizes the trustworthiness of Libra.
South Korean Multinational Company – LG Corporation, recently announced its involvement with blockchain technology. Coming into a business agreement with Ground-X, a subsidiary the South Korean Internet Company – Kakao.
It’s worth sticking around for a while to monitor if Libra is another publicity stunt or a new wave of impact like the one Mark Zuckerberg made with Facebook being the world’s largest social media platform.
Facebook’s Libra project is drawing scrutiny from global regulators soon after the announcement last week. After the US, European regulators have asked the company to furnish more details about its cryptocurrency plans.
The chairwoman of the House Financial Services Committee Maxine Waters announced that the panel will hold the second hearing next month on Facebook’s plan to develop a cryptocurrency-based payments platform Libra.