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Fed Governor Warns Potential Users About Lack Of Clarity From Facebook's Libra project
Summary: In a speech by Lael Brainard, member of the Federal Reserve’s Board of Governors, raised several concerns with the user safety of Facebook’s Libra coin. The chairman on the Fed’s Committees on Financial Stability raised concerns that Libra could put users in harms way, due to how unclear the user’s rights are in regard to ...
In a speech by Lael Brainard, member of the Federal Reserve’s Board of Governors, raised several concerns with the user safety of Facebook’s Libra coin.
The chairman on the Fed’s Committees on Financial Stability raised concerns that Libra could put users in harms way, due to how unclear the user’s rights are in regard to the coin’s underlying assets and the entire system. Brainard noted during the speech that while Libra will have protections in place for bank deposits, there is no clarity on whether any protections will be offered to the users.
By Ramsey Baker
Tags: Cryptocurrency,Facebook,Fed,Libra
Link: Fed Governor Warns Potential Users About Lack Of Clarity From Facebook's Libra project [Copy]
