WASHINGTON, July 10. /TASS/. The decision of Facebook to release its own crypto currency Libra in 2020, causing the Federal reserve system (FRS) that perform the functions of the Central Bank of the country, “a serious concern”. This was stated on Wednesday by the Chairman of the financial regulator Jerome Powell, speaking at a hearing of the Committee on financial services of the house of representatives of the U.S. Congress, devoted to the monetary policy of the country and the state of the American economy.
“While the sponsors of the project provide society the opportunity to benefit, including improving access to Finance for consumers, Libra is a matter of serious concern in privacy issues, money laundering, consumer protection and financial stability, — said the head of the fed. — The process of solving these problems must be patient and careful.”
According to him, U.S. and international financial regulators: will be watching closely this year. The fed is coordinating its actions on this issue with the U.S. Treasury, and foreign Central banks.
The head of the Committee, Maxine waters has previously stated that the decision Facebook is a continuation of the uncontrolled penetration of the American companies in the personal lives of millions of users. It reiterated its call to the company to defer the issuance to Libra until legislators and regulators in the U.S. fail to complete the relevant checks.
Previously, Facebook announced that it will put into circulation its own cryptocurrency Libra in 2020. In turn, the Wall Street Journal reported that several major American corporations, including Visa, Mastercard, PayPal and Uber are going to invest $10 million in the creation of the consortium, who “will rule the cryptocurrency” from Facebook.
Guide Facebook has repeatedly been criticized by representatives of the U.S. government and the American public. The administration of the social network, in particular, was accused that she does not oppose quite vigorously to spread malware information. As previously reported by Reuters, U.S. authorities are preparing to launch a large-scale investigation against Amazon, Apple, Facebook and Google to check for possible violations of antitrust laws. Simultaneously, on the beginning of own investigation declared Democrats in the House of representatives.
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