Powell said any regulatory review of the recently announced project should be 'patient and careful,' and he expects the US Financial Stability Oversight Council, a panel of financial regulators, will also review the idea.
Reuters
@moneycontrolcom
US Federal Reserve Chairman Jerome Powell said on July 10 that Facebook's plan to build a digital currency called Libra raises "serious concerns" that merit a thorough regulatory review.
"Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability," he said in an appearance before the US House of Representatives Financial Services Committee. "These are concerns that should be thoroughly and publicly addressed."
Powell said any regulatory review of the recently announced project should be "patient and careful," and he expects the US Financial Stability Oversight Council, a panel of financial regulators, will also review the idea.
First Published on Jul 10, 2019 09:22 pm
