US Government formally calls to freeze Facebook's Libra cryptocurrency

[jonatrod]

"Democrats from the U.S. House of Representatives wrote an open letter to Facebook Tuesday, calling on a moratorium to all libra development while the Financial Services Committee and affiliated subcommittees hold hearings to determine how it would operate and what protections would be implemented to protect user privacy."

Read more: https://www.coindesk.com/4-us-lawmakers-join-call-to-freeze-facebooks-libra-project [nofollow]

[Senin]

Yes, Facebook through Libra coin will be able to concentrate too much information about citizens. Considering that several billion people now use the social network Facebook, almost a third of the world's population, and thanks to that a lot of information about its users is concentrated, then if you add information about the financial activities of citizens to this information, it will be a very big monster. It is no coincidence that the one who owns the information owns the world.

[Bobcrypto]

And despite all this ups and down from several sector of the world calling on Facebook stop it's project launch, hopefully 2020, i think this pressure may amount to nothing because, i think Facebook has the right to launch a project based on cryptocurrency just like any other companies has done. In my opinion, there may be a prolonged litigation about this increasing call to stop or freeze Facebook Libra project. Let see how this game plays out.

[mimikri]

"Democrats from the U.S. House of Representatives wrote an open letter to Facebook Tuesday, calling on a moratorium to all libra development while the Financial Services Committee and affiliated subcommittees hold hearings to determine how it would operate and what protections would be implemented to protect user privacy."
Read more: https://www.coindesk.com/4-us-lawmakers-join-call-to-freeze-facebooks-libra-project

It is news that can really change a lot of things. Libra has not yet appeared, but it can vanish forever. I will be monitoring the situation with Libra and Facebook reaction on everything.

[Parna]

the US government's efforts will not run smoothly, because with or without restrictions or support from it, Libra will circulate and spread throughout the world 

[Bobcrypto]

the US government's efforts will not run smoothly, because with or without restrictions or support from it, Libra will circulate and spread throughout the world 

Yeah, i think witch hunting will definitely amount to nothing because i don't see US government pulling down the entire plans of Facebook Libra launch. I still believe they have the right as a company to launch more business or companies.

[vegasus]

I think what the US government did won't make Libra ended and stop its development. Facebook should have the power to continue its project with Libra. I don't think Facebook must get permission from US government to continue Libra's project.

[IyemRoker]

Freeze is a bad thing or a good thing?
As far as I know, the name Freeze is the same as the key and can't be operated.

I think this is bad news for Libra and has become an FUD for Americans. LOL

[mimikri]

Freeze is a bad thing or a good thing?
As far as I know, the name Freeze is the same as the key and can't be operated.
I think this is bad news for Libra and has become an FUD for Americans. LOL

I believe that the USA government will not stop the project, and Libra will be released in 2020. I guessmillions are ready to get this stable coin already, and the project will have success.

[Peter90]

Libra Members Consider Quitting Project Due To Gov't Pressure: Report

At least three of Facebook’s early backers for its planned Libra stablecoin launch are considering withdrawing their support in light of the fierce regulatory pushback.
A report from the Financial Times on Aug. 23 alleges that two founding partners of Facebook’s Libra Association have held discussions about what their “right next steps” should be.
One further — again unnamed — backer is purportedly concerned that their public support for Libra will draw unwanted regulatory scrutiny of their own, independent businesses.

In an interview with the Financial Times, one partner noted that:
“I think it's going to be difficult for partners who want to be seen as in compliance [with their own regulators] to be out there supporting [Libra].”

Another backer criticized the social media giant for its ill-conceived strategy, saying that:
“Some of those conversations [about regulation] should have taken place before the launch, to understand how regulators would think about this, so there wasn’t so much pushback.”

Regulators swoop in
As reported this week, the European Commission’s antitrust regulators —  have become the latest to join the rounds of regulatory probes into Libra since the project’s unveiling this June.
The regulatory backlash governments, regulators and central bankers worldwide reached such a fever pitch that by late July, Facebook was prompted to warn its investors that the stablecoin may never be released.

https://www.zerohedge.com/news/2019-08-23/libra-members-consider-quitting-project-due-govt-pressure-report


So, those 2 sceptical Libra founding members mentioned above, were 2 out of these companies:

[mlawson71]

Japan is also calling for a global regulation on Libra should it ever launch.

[damsix]

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Freezing a cryptocurrency that hasn't appeared is very painful and this has happened to LIBRA who has the support of world-famous person, Mr. Zuckerberg.
Very sad for LIBRA but this is not fair because LIBRA has not really been a listing.

Like words like being pregnant in the womb 7 months and will be aborted. Dammmnnnn!