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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Revision as of 18:05, 11 February 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.
- 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 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.
