The United States Congresswoman Maxine Waters met some regulators to hold discussions in regard with Facebook’s launch of its very own cryptocurrency, “Libra”. The meeting was held in Switzerland ironically where Facebook’s Libra Association is headquartered.
After meeting with the regulators the United States Congresswoman Maxine Waters expressed a lot of concerns about allowing multinational social media giant Tech company to have their own privately controlled Global currency.
Here is what Congresswomen voters said on regard to this issue:
“I look forward to continuing our Congressional delegation, examining these issues, money laundering, and other matters within the Committee’s jurisdiction.”
The meeting was led by United States Congresswoman Maxine Waters and included six more members from the United States House of Representatives Financial Service Committee. Along with members from State Secretariat for International Financial Matters (SIF), The Federal Data Protection and Information Commissioner (FDPIC), The Financial Market Supervisory Authority (FINMA) as well as some of the Switzerland’s legislators and lawmakers were also involved in the discussions regarding the Facebook’s plan of launching its own cryptocurrency “Libra”.
Facebook is facing concerns and scrutiny from all over the world since its announcement of the launch of its own digital currency “Libra” that would be accepted and used globally. The lawmakers are having quite a lot of concerns for “Libra” and the problem cannot be seen to be going away so easily. Facebook’s ‘Libra” will have to face many more challenges in the coming days.
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