Thursday , June 1 2023

Trump deals with Facebook's flagship Libra


Time is not trivial, as social network leaders are expected in Congress next week to explain their own.

"The more we explore this project, the more we have serious questions and potential reserves"France's governor Francois Villarreal de Galhout warned on Thursday that the US dollar has never been better than the Federal Reserve Chairman Jerome Powell said:The scales raises very serious issues related to privacy, money laundering, consumer protection and financial stability. "

And the president Donald Trump said on Thursday his mistrust: "I'm not a crypto-fan who is not money and whose value is very volatile and is not based on anythinghe said.

"If Facebook and other companies want to become banks, they need to apply for a new bank charter and be subject to all banking regulations as well as other banks, national and international," he adds.

But from the outset, this project has attracted the mistrust of international supervisors and legislators, who are only ten years of hard work to make the global financial system safer, but also after the burst of scandals about consumer data usage, which plagued the reputation of Facebook,

Mr. Powell said he supports financial innovation while identifying the appropriate risks, but he says the huge platform wins FacebookImmediately place Libra before other digital money projects. The Association of Central Banks also set up a special working group to focus on the project Facebook,

Source link