Jerome Powell, Chairman of the U.S. Federal Reserve has issued a stern warning to Facebook along the lines of its Libra project, maintaining that developments of the highly controversial cryptocurrency project cannot proceed until the accurate regulatory procedure has been put in place.
In Powell’s words, “serious concerns” are yet to be expressed and must be addressed before developments and implementation procedures.
Facebook seems to be under the limelight recently, particularly as a result of its newly announced cryptocurrency project, Libra. In this global financial services provision, as many as 1.7 billion
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