US House of Representatives to hold hearing on Libra
In July, the Financial Services Committee of the US House of Representatives will hold a hearing on the proposed virtual currency of Facebook
The announcement was made by the chairwoman of the committee, Maxine Waters, who previously asked Facebook to stop working on the Libra cryptocurrency until the Congress and the regulatory bodies had the opportunity to examine the proposal of the social media giant.
Similarly, the authority commented on the lack of constant regulation in the cryptographic currency market and asserted that regulators should consider Facebook plans for Libra. That is, some concerns should be taken into account, such as privacy, national security and the commercial risks of cryptocurrencies.
The Banking Committee of the Senate will know the details of Libra on July 16 in a session called “Examining the considerations proposed by Facebook about the digital currency and the privacy of data.”
France is leading efforts to develop an international working group focused on the regulation of cryptoactives through central banks. It will be a G7 committee that will work under the direction of Benoit Coeure, member of the board of directors of the European Central Bank.
It is worth emphasizing that Paris is against Libra operating as a sovereign currency. France is concerned about how to enforce legislation such as anti-money laundering regulations.
L.Sáenz
Source: Cointelegraph
