Sunday , August 18 2019
Home / senegal / Facebook and Libra project under attack by congressional critics

Facebook and Libra project under attack by congressional critics



* A Waagenbeamter before a commission of the
room

* Representatives as critical as the senators

* One representative proposes a pilot project
(Update with explanations and explanations)

by Anna Irrera and Pete Schroeder

WASHINGTON, July 17 (Reuters) – Facebook has been
new men Wednesday by US parliamentarians,
This time from the Financial Services Commission of the
House of Representatives, who asked him about the Libra project
digital currency.

David Marcus, the Facebook leader, who
Project was heard Tuesday by a bank commission
on the risks associated with the confidentiality of
Privacy and consumer protection as well
Controls against money laundering.

The former chairman of PayPal said again before the
Congress on Wednesday, this time in front of the Service Commission
Representative of the House of Representatives, controlled by the
Democrats.

Facebook announced this cryptocurrency on June 18th, which must
enable it to prevail in payments, services
Financial and online trading worldwide from
Users of his various social networks.

This currency, not in state ownership or bank
Central offices are managed by an association
Companies, nonprofit organizations and
Higher education institutions. The start is planned
2020th

"Facebook's plans to create a currency and one
digital portfolio, I'm seriously worried, "said
Maxine Waters, Chair of the Services Committee
Representatives of the House of Representatives, in
prliminaires.

"When the plan of Facebook is realized, the group and its members become
Partners will have tremendous economic power
probably destabilize currencies. "

Like Snat's the day before, the House Committee
Representatives asked David Marcus questions
of the possible impact of Libra on politics
global management of customer data.

The hearing on Wednesday promised to be even tense.
The committee has already distributed a bill that it could
Bury the project by banning Facebook and others
Technology companies to enter the services sector
Financial.

"YOU SHOULD NOT START LIBRA"

Democratic representative Carolyn Maloney asked David
Marcus is to participate in a Libra pilot program with one
Millions of users, supervised by financial regulators
Americans, including the Federal Reserve.

"I think you should not start Libra at all."
she said. "At least you should agree with that
small pilot program. "

David Marcus has not committed to this program
but tried to reassure parliamentarians by promising them
Libra not start as long as the concerns do not exist
scattered.

"We will take the time to make everything go well"
he assured.

He added that the social network revealed the project
an early stage to gather reactions from everyone
Interest Groups.

David Marcus was asked in particular about the measures he had taken
Facebook planned to build a network to fight against it
Money laundering and data protection
and means of internet users.

"I'm afraid the date 2020 would be a
deep misunderstanding how Libra could
Impact on the financial security of the United States, the system
global financial system, criminal activity and human rights
the man, "said Republican Ann Wagner.

Prior to this Libra project, the social network was very interested
criticized for his administration of private data and not
have sufficiently prevented Moscow's interference during the war
the US presidential election in 2016.

In France, the French Minister of Economic Affairs and
Finance Bruno Le Maire said that the project of
"Stable Cryptocurrency" Libra as presented by
Facebook could not see the light of day.

The G7 Finance puts the wheels into the wheels of Libra
Facebook

The Libra would threaten the central banks first – Nomura

(Claude Chendjou and Catherine Mallebay-Vacator for the service
French (according to Benot Van Overstraeten and Patrick Vignal)


Source link