Governments might have a problem stopping Libra. I think they are desperate to establish some kind of handshake with the organization to continue their oversight.
They might lose control over money in the end. They should have realized it's a futile pursuit at this point.
Topic: US Government vs. Facebook Libra - page 5. (Read 1003 times)
Facebook Libra will have to obey the law and any judicial decision. As it is a company, it must obey or it will be just shut down.
Facebook indeed has a lot of resources, but in the end they must obey regulations. Maybe Libra project gets postponed
Facebook indeed has a lot of resources, but in the end they must obey regulations. Maybe Libra project gets postponed
The US government had the right to question facebook libra before is being rolled out on its consequences on their economy and how its going to affect government policies in a longer term perspectives as digital currency, we are all aware of bitcoin decentralized features which the banks sees as a major threat to their existence the coming of Libra might also posses another threat which prompted congressmen to take a critical assessment of the cryptocurrency so as to take a drastic action.
This means that encryption has begun to erupt media warfare between global systems, I believe this step is important in the future of the digital currency will have a political, economic and social impact, Certainly, the more controversial the issue of encryption, the more positive the result.
This has been published weeks ago and I think this is another government way of harassing cryptocurrency,imagine the popularity of Facebook is now their target tout down the libra coin release next year.wondering what’s their true motive ,specially these lawmakers that preventing the launching of this much awaited coin
Quote
Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail."
Now this is a weird statement.
Libra won't be a threat to the US dollar because the libra price will be tied to the US dollar price(if the rumors are right about that).However,it's always good to have a constructive discussion about that topic.Zuckerberg will be obligated to reveal his true intentions about this new facebook currency.
If something really bothers Governments, you know for sure they will found a way to stop
Sometimes you guys are so naive to think a coin created by Facebook can threatens a economy
BTC and the ideas can do some to economy, but if a government create a law to arrest anyone who uses BTC, will you continue to use and face the risks?
Sometimes you guys are so naive to think a coin created by Facebook can threatens a economy
BTC and the ideas can do some to economy, but if a government create a law to arrest anyone who uses BTC, will you continue to use and face the risks?
governments fear everything they cannot manipulate or control. even the banks fear Libra and cryptocurrencies. the banks have probably pressured governments to intervene. let us remember, however, that Libra is not truly decentralized.
I think Washington's handling of the Iran situation is more important. The oil supply agreements with Iran and Saudi Arabia led to the US dollar taking over from Sterling after the Second World War. Russia seems to have taken over OPEC, and Venezuela and Iran are likely to side with China to allow the Renminbi to replace the Dollar. A government backed "crypto" is likely to be more popular than FaceBux, especially as Facebook seems to be on the skids at the moment, as a result of their censorship.
This is my opinion, and don't forget that I believe that Satoshi is/was a department in a central bank.
This is my opinion, and don't forget that I believe that Satoshi is/was a department in a central bank.
Yes, exactly, they are afraid that Facebook Libra will become something more than just a cryptocurrency. This is their greatest fear.
Recently, the House of Representatives of United States of America-Committee on Financial Services sent a letter to Facebook founder, Mark Zuckerberg with regard to the proposed cryptocurrency namely as Libra and its proposed wallet, Calibra.
What do you think guys? Does Facebook proposed cryptocurrency really threatens the Government's monopoly on the money supply?
"Because Facebook is already in the hands of over a quarter of the world's population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action. During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail."
https://financialservices.house.gov/uploadedfiles/07.02.2019_-_fb_ltr.pdf
What do you think guys? Does Facebook proposed cryptocurrency really threatens the Government's monopoly on the money supply?
"Because Facebook is already in the hands of over a quarter of the world's population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action. During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail."
https://financialservices.house.gov/uploadedfiles/07.02.2019_-_fb_ltr.pdf
Jump to: