U.S. Treasury Secretary Steve Mnuchin on Monday voiced serious concern that Face...
) proposed Libra cryptocurrency could be misused for money laundering, adding to the growing regulatory skepticism of the social media company’s digital asset plans.
The Treasury Department has warned Facebook that it must enact proper safeguards against illicit use such as money laundering, he said at a White House press conference. “Treasury has been very clear to Facebook ... and other providers of digital financial services that they must implement the same anti-money laundering safeguards in countering the financing of terrorism as traditional financial institutions,” Mnuchin said.
His comments came a day before Facebook’s top official overseeing the launch of its Libra cryptocurrency, David Marcus, was scheduled to tell U.S. lawmakers the company would not launch the digital currency until regulatory concerns and approvals are fully addressed, according to prepared testimony posted by the Senate Banking Committee.
Mnuchin said Facebook’s Libra would have to convince financial regulators it has high privacy standards.The company is a “long way away from” securing approval from U.S. regulators or launching the cryptocurrency in the United States, he said.Our Standards:
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Facebook crypto chief says company does not expect 'to make money at the outset' with Libra currencyIn his prepared testimony for Tuesday's Senate banking committee hearing, Facebook's David Marcus tells lawmakers that the Libra currency will be secure.
Baca lebih lajut »
Facebook official says regulatory concerns to be addressed before Libra launchFacebook Inc's top official overseeing the launch of its Libra cryptocurren...
Baca lebih lajut »
Facebook blockchain boss David Marcus says Libra won't launch until it has 'fully addressed regulatory concerns'Facebook exec David Marcus testifies before a US Senate committee on Tuesday about the company's ambitious digital currency plan.
Baca lebih lajut »
Swimming: Sun doping case needs more 'clarity', says Australia coachAustralia's head swimming coach has questioned a panel decision to clear Su...
Baca lebih lajut »
Facebook-Driven Area 51 Storming May Be Countered With Force, Says US Air ForceFun and games on Facebook may have serious consequences for the foolish. That was the message delivered by the US Air Force, who have responded to a Facebook’s group’s efforts to have 4…
Baca lebih lajut »
Down to regulators to decide whether Facebook needs a banking license for Libra, UK's outgoing finance chief saysPresident Donald Trump recently said that social media giant would need a banking charter to operate the currency.
Baca lebih lajut »