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Fed’s Jerome Powell Calls for Halt to Facebook’s Libra Currency Project

Published 07/11/2019, 07:29 AM
Updated 07/11/2019, 08:41 AM
 Fed’s Jerome Powell Calls for Halt to Facebook’s Libra Currency Project

Facebook’s Libra project faced a backlash from US Federal Reserve’s Chairman, Jerome Powell, who believes the project “cannot go forward” unless serious concerns are addressed, reported Reuters. With this statement, Powell joins the side of most international regulators, both central banks and financial oversight authorities. The prevailing opinion is that Libra may be a threat both to monetary policy and to commercial banks and personal finance.

“Libra raises many serious concerns regardin...

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