French and US Officials Criticized Facebook’s Cryptocurrency Libra

Facebook’s cryptocurrency project Libra has been criticized by French and US officials. The authorities did not appreciate the innovative development of the social network and want to nip it in the bud. French Finance Minister Bruno Le Maire appealed to the heads of the Central Banks of the countries of the G7 to study Libra tokens. He believes that they can not be released. Member of the US Republican Party, Patrick McHenry, wrote a letter to the chairman of the US House Committee on Financial Services, Maxine Waters, demanding a hearing on the issue of the Libra virtual currency. Waters supported the McHenry initiative and proposed to impose a moratorium on the further development of the Facebook project. Read more on the topic: https://thecoinshark.net/circle-ceo-facebook-s-libra-will-boost-bitcoin-price-to-10-000-per-coin/ US Senator Sherrod Brown, who is a member of the Senate Committee on Banking, Housing, and Urban Affairs, posted a message on Twitter stating the following:

Facebook is already too big and too powerful, and it has used that power to exploit users’ data without protecting their privacy. We cannot allow Facebook to run a risky new cryptocurrency out of a Swiss bank account without oversight. https://t.co/IjZOFNai3r

— Sherrod Brown (@SenSherrodBrown) 18 июня 2019 г.

On June 18, Facebook published the Libra documentation and launched a test version of the blockchain. Whitepaper describes the technical characteristics of the new network, the financial ecosystem management model, a programming language Move, and instructions for performing transactions in the Libra Blockchain. In 2020, the company plans to release a crypto wallet Calibra for storing Libra tokens. It will be integrated into Facebook Messenger and WhatsApp messengers. According to employees of the social network, the application will have a simple interface, so each user can send and receive digital assets without any problems. We want to remind you: https://thecoinshark.net/the-wall-street-journal-visa-mastercard-and-paypal-invest-in-facebook-cryptocurrency/