Facebook: Libra currency issuance needs the help of government and regulators

category:Internet
 Facebook: Libra currency issuance needs the help of government and regulators


Comprehensive report by Pengbao journalist Liu Xilin

In a letter to the Senate Banking Committee on July 9, David Marcus, head of the Facebook Block Chain Project, said Libra would need the help of the government, the central bank and relevant regulators.

We understand the inquiries from regulators and others that such a large project really takes time and we cant act alone, Marcus said in a letter to Mike Crapo, chairman of the Senate Banking Committee, and Sherrod Brown, a senior member of the Senate Banking Committee. We want and need the government, the central bank, regulators, and non-profit organizations. Organizations and other stakeholders participate and value the feedback we receive.

Since Facebook announced the Libra plan on June 18, American lawmakers have publicly voiced their concerns. On July 2, Maxine Waters, chairman of the House Financial Services Committee, issued an open letter calling on Facebook to suspend its plans to develop Libra and Calibra until regulatory and congressional investigations are clear.

In addition, Marcus will attend congressional hearings on July 16 and 17, respectively. Among them, on July 16, the Senate Banking Committee held a hearing entitled Examining Digital Money and Data Privacy Considerations Proposed by Facebook, and on July 17, the House Financial Services Committee called Examining Facebook Proposals Hearing on Digital Money and Its Impact on Consumers, Investors and the U.S. Financial System. For two consecutive days of Senate and House hearings, Marcus said in the above letter, I promise I will take the time to do it well. Source: Wang Fengzhi _NT2541

In addition, Marcus will attend congressional hearings on July 16 and 17, respectively. Among them, on July 16, the Senate Banking Committee held a hearing entitled Examining Digital Money and Data Privacy Considerations Proposed by Facebook, and on July 17, the House Financial Services Committee called Examining Facebook Proposals Hearing on Digital Money and Its Impact on Consumers, Investors and the U.S. Financial System.

For two consecutive days of Senate and House hearings, Marcus said in the above letter, I promise I will take the time to do it well.