U.S Federal Reserve Head Jerome Powell Slams Facebooks Libra Cryptocurrency

Jerome Powell, the Chair of the U.S Federal reserve has slammed Facebooks Libra cryptocurrency project, saying it "cannot move forward" until the Fed is satisfied Money Laundering concerns are address. This comes on the back of the Korean Watchdog warning of the financial risks of the project.

The question remains, whether Facebooks Libra will ever go ahead? Is the project doomed from the beginning, but with regulators merely controlling the media to soften the blow?

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✘ Resource Links
https://www.coindesk.com/fed-chair-says-libra-cannot-go-forward-until-facebook-addresses-concerns
https://twitter.com/BeauStoner/status/1149124292241571841
https://twitter.com/Cryptos_Aus/status/1141555083601223680
https://twitter.com/Cryptos_Aus/status/1146251989396836352
https://www.coindesk.com/korean-watchdog-warns-of-financial-stability-risk-from-facebooks-libra
https://cointelegraph.com/news/facebooks-david-marcus-assures-congress-that-libra-will-cooperate
https://www.coindesk.com/winklevoss-twins-gemini-exchange-may-join-facebooks-libra-project

#Facebook #Libra #News

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