Facebook’s Libra is still far from a launch, but American consumer bodies are staging a backlash. A petition has called for a moratorium on Libra, from Congress or other regulatory bodies.
Even after the launch of thousands of digital assets, the decision of Facebook (NASDAQ:FB) to create the Libra Foundation and launch a coin in 2020 caused reactions from regulators, both in Europe and the USA.
“The Facebook proposal to create a new cryptocurrency as part of its broader Libra project raises profound questions about national sovereignty, corporate power, consumer protection, competition policy, monetary policy, privacy and more. The U.S. regulatory system is not prepared to address these questions. Nor are the regulatory systems of other nations or inte...
