Difference between revisions of "Facebook Libra/Crypto"
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(Created page with "* Facebook had to rebrand its crypto project amid a series of setbacks, including major financial backers dropping out over regulatory concerns. The crypto project also has faced bipartisan criticism from US regulators and lawmakers. * President Trump argued Libra would have little standing or dependability and said Facebook should be subject to banking regulations. * Jerome Powell, the head of the Federal Reserve, said he was concerned Facebook’s cryptocurrency would...") |
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* Facebook had to rebrand its crypto project amid a series of setbacks, including major financial backers dropping out over regulatory concerns. The crypto project also has faced bipartisan criticism from US regulators and lawmakers. | * Facebook had to rebrand its crypto project amid a series of setbacks, including major financial backers dropping out over regulatory concerns. The crypto project also has faced bipartisan criticism from US regulators and lawmakers.<ref>https://www.cnbc.com/2020/01/03/big-tech-will-push-into-finance-in-2020-while-avoiding-bank-regulation.html</ref> | ||
* President Trump argued Libra would have little standing or dependability and said Facebook should be subject to banking regulations. | * President Trump argued Libra would have little standing or dependability and said Facebook should be subject to banking regulations.<ref>https://www.washingtonpost.com/technology/2019/07/12/president-trump-takes-aim-facebooks-cryptocurrency-libra-saying-it-should-be-regulated/</ref> | ||
* Jerome Powell, the head of the Federal Reserve, said he was concerned Facebook’s cryptocurrency would lead to money laundering and face issues with consumer protection and financial stability. | * Jerome Powell, the head of the Federal Reserve, said he was concerned Facebook’s cryptocurrency would lead to money laundering and face issues with consumer protection and financial stability. | ||
* In September 2021, Biden Treasury department officials warned that Facebook’s cryptocurrency venture could undermine the stability of the financial system and threaten the broader economy if the value crashed. | * In September 2021, Biden Treasury department officials warned that Facebook’s cryptocurrency venture could undermine the stability of the financial system and threaten the broader economy if the value crashed.<ref>https://www.washingtonpost.com/us-policy/2021/09/10/facebook-crypto-diem-treasury/</ref> | ||
Latest revision as of 20:19, 10 March 2022
- Facebook had to rebrand its crypto project amid a series of setbacks, including major financial backers dropping out over regulatory concerns. The crypto project also has faced bipartisan criticism from US regulators and lawmakers.[1]
- President Trump argued Libra would have little standing or dependability and said Facebook should be subject to banking regulations.[2]
- Jerome Powell, the head of the Federal Reserve, said he was concerned Facebook’s cryptocurrency would lead to money laundering and face issues with consumer protection and financial stability.
- In September 2021, Biden Treasury department officials warned that Facebook’s cryptocurrency venture could undermine the stability of the financial system and threaten the broader economy if the value crashed.[3]
- ↑ https://www.cnbc.com/2020/01/03/big-tech-will-push-into-finance-in-2020-while-avoiding-bank-regulation.html
- ↑ https://www.washingtonpost.com/technology/2019/07/12/president-trump-takes-aim-facebooks-cryptocurrency-libra-saying-it-should-be-regulated/
- ↑ https://www.washingtonpost.com/us-policy/2021/09/10/facebook-crypto-diem-treasury/
