please contact sales@tanchin.hk for any inquiry
Facebook (FB.O) said Monday it would not launch its encrypted currency, Libra, until regulatory concerns were resolved, as the US Treasury Secretary expressed unusual concern that Libra could be used for illegal activities.
David Marcus, who runs the Facebook block chain, plans to tell Congress that Libra was not created to compete with traditional currencies or interfere with monetary policy.
"Libra Association, which will manage Libra reserves in the future, has no intention of competing with any sovereign currency or entering the field of monetary policy." Marcus will say so Tuesday, according to the testimony prepared by the Senate Finance Committee. "Monetary policy should be the central bank's authority.
"Facebook will not provide Libra digital currency until regulatory concerns are fully addressed and appropriately approved," he said.
Speaking to reporters, Nuchin said he was not very confident about Libra, especially in preventing money laundering and other illegal uses.
"They have to convince us that they meet very high standards before they can enter the U.S. financial system," he said.
A few days ago, President Powell of the Federal Reserve expressed similar concerns about the possible misuse of this digital currency.


please contact sales@tanchin.hk for any inquiry
PREVIOUS:Bearing side cover packing Improvement        

NX20 NX17 NX15 NX12 NX10 NX7-TV TC5266 TC4860 TC4052 TC3648 TC3244 TC2840 TC2435 TC2233 TC2031 TC1828 TC1726 TC1625 TC1427 TC1423