Facebook vows Libra currency will wait for approval as US airs worries - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

David Marcus, who oversees Facebook’s blockchain efforts, planned to tell Congress that Libra is not being built to compete with traditional currencies or interfere with monetary policysaid on Monday it would not proceed with the launch of its Libra cryptocurrency until regulatory concerns are addressed, as the US Treasury secretary took the unusual step on of saying he had serious concerns it could be used for illicit activity.

Speaking with reporters, Mnuchin said he was not comfortable with Libra currently, particularly in guarding against money laundering and other illicit use. Since announcing the Libra project last month, Facebook has faced a torrent of criticism and skepticism from policymakers across the world who cite concerns over data security, money laundering and consumer protections.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook's Libra currency under fire | Business | M&GFacebook’s planned virtual unit Libra, already under heavy attack from US President Donald Trump and global regulators, faces scepticism among the wider cryptocurrency community as well.
Source: mailandguardian - 🏆 2. / 92 Read more »

Business Maverick: Tuesday, July 16: Five Things You Need to Know to Start Your DayDonald Trump weighs in on China GDP. Facebook won’t launch Libra until regulators are satisfied. And a former U.S. National Security Advisor spars with a Chinese diplomat on Twitter over race. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »

South Africans are negative - Baxter - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Bafana Bafana coach Stuart Baxter says South Africans are negative about their national team. He was speaking at the arrival of the national team from African Cup of Nations in Egypt on Saturday.
Source: SABC News Online - 🏆 32. / 51 Read more »