A Facebook cryptocurrency? The social media giant's decision to launch 'Libra' sparks new privacy concerns via ReutersTV
A Facebook representative said the company looked forward to answering lawmakers’ questions.
“It gives us a basis to go and have productive conversations with regulators around the world,” he told Reuters. “We’re eager to do that.” A 3-D printed Facebook logo is seen in front of displayed binary code in this illustration picture, June 18, 2019. REUTERS/Dado Ruvic/Illustration But Facebook’s status as a Silicon Valley behemoth touching billions of people around the world could help legitimize what has so far been a niche and volatile market.
The group aims to raise money through a private placement in coming months. Facebook does not plan to maintain a leadership role after 2019. Some Libra backers acknowledged that consumer privacy brawls or regulatory resistance could hinder their lofty goals, and detailed some steps they are taking to pre-empt those issues.
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