Consumer Advocates Call Libra Members To Leave The Project

Consumer Advocates Call Libra Members To Leave The Project

The Consumer Protection Coalition asked all members of the Libra Association (28 companies) to leave the Libra project.

“We call upon you as respected members of the business, financial, technology, and civil society communities to collectively withdraw from the Libra projec. Achieving a laudable goal should not be cheapened with a project whose aims are in fact unclear and whose leadership structure is based on fear” – was mentioned in an open letter

The fear is connected with the powerful influence of Facebook. This letter also cites the speech of Senator Brian Schatz on Tuesday, July 16 at a meeting of the Senate Banking Committee: 

“Members of the consortium actually have lots of questions too, similar to the questions that are being offered on this dais and they have great reservations about moving forward but they don’t want to be left out because of Facebook’s market power.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *