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American Lawmakers May Throw a Spanner in the Works of Facebook’s Cryptocurrency
July 08, 2019
Economy watchdogs and lawmakers in the US have their reservations for Facebook’s own cryptocurrency Libra and have even asked for a halt in an official letter to the company. They have raised concerns regarding the impact of the virtual currency on the global economy, data privacy, national sovereignty, and regulations on money laundering.
Ever since the social media giant announced Libra, its stock has hiked. It also looks to introduce a wallet called Calibra, although that has attracted the regulators for comprehensive scrutiny.
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