Altcoins News
By Maheen Hernandez
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Facebook's Libra has been tentatively scheduled for launch in 2020. Facebook revealed its plans on Tuesday.
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Libra is expected to be integrated with the plans and services offered by Facebook. However, the US is not happy about this move.
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Maxine Waters, Chairperson of the Financial Services Committee required that Facebook pause the project.
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Waters stated, "With the announcement that of the plans to create a cryptocurrency, Facebook continues its unchecked expansion and extends its reach into the lives of its users."
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The company has had a troubled past. The Congresswoman required that Facebook should agree to a moratorium on any further forward movement concerning developing…
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Facebook executives should come before the committee to provide testimony to these issues.
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Facebook has been working alongside several partners to develop and launch Libra. There are about 27 partners today in the process.
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A new wallet which will work alongside the Messenger and Whatsapp is to be released, and it is expected that the cryptocurrency will be released in a way to function along with it.
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Maxine Waters stated Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are…
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There is no clear regulatory framework for the current cryptocurrency market as there are not enough regulatory framework in place in a way to provide for reliable protection for…
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The social media giant holds the data of billions of people. Waters further stated that the social media giant had been continually "shown a disregard for the protection…
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In a letter to the Congresswoman, Patrick McHenry wrote, "While there is a great promise for this new technology in fostering financial inclusion and faster payments,…
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Libra has caught up the attention of European Law Makers. In the current scenario, there is no doubt or question about Libra “Becoming a Sovereign Currency.”
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