RATE Group | Facebook Libra cryptocurrency a ‘serious concern’ for Federal Reserve, report says
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Facebook Libra cryptocurrency a ‘serious concern’ for Federal Reserve, report says

15 Jul Facebook Libra cryptocurrency a ‘serious concern’ for Federal Reserve, report says

Posted at 09:20h in Cryptocurrency News by

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In this photo illustration a facebook crypto currency Libra

Even more regulators are examining Facebook’s cryptocurrency, Libra.


Omar Marques/Getty Images

The US Federal Reserve System has added its voice to the chorus of doubts raised by lawmakers, politicians and others worldwide about Facebook’s newly announced cryptocurrency, Libra. While speaking to House lawmakers Wednesday, Federal Reserve Chairman Jerome Powell said the US central bank has “serious concerns” about Libra, The Wall Street Journal reported.

Facebook last month unveiled the global digital coin, which will be managed by a governing body called the Libra Association and through a wallet named Calibra. Facebook is working alongside 27 launch partners for Libra, including PayPal, Visa, Uber, Coinbase, Lyft, Mastercard, Vodafone, eBay and Spotify, but aims to have 100 members in the…

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