Regulators of the United States, Great Britain, the EU, Australia and Canada have published a joint statement expressing concern about the Libra cryptocurrency project.
On Tuesday, regulators said that Facebook has failed to solve privacy problems in the past, and the new cryptocurrency project further increases concerns, since the Libra Network “can instantly become a repository of personal information of millions of people.”
“Given the current plans for the rapid implementation of Libra and Calibra, we are surprised and concerned that additional information regarding privacy and data protection is not yet available,” the regulators said.
The authorities have called on the 28 Libra Association members to provide more detailed information, such as how personal information will be used and whether it will be transferred between Libra Network members and any third parties.
While regulators support the economic and social benefits that Libra can offer, they “should not be provided at the expense of people’s privacy,” the statement said.
This week it became known that Facebook hired a
former assistant to a US senator to lobby for Libra’s interests. We also recall that in the middle of last month
, two-day hearings were held in the US Congress, during which the head of Facebook’s blockchain division, David Marcus, answered a number of questions from lawmakers about the Libra project