Skip to main content

Facebook rejects lawmaker demands to halt cryptocurrency | Financial Times

xxx

Facebook has rejected US lawmaker demands to halt its plans to launch a digital currency, despite two days of bruising hearings in Washington where the scheme was attacked as a threat to users’ privacy, the banking system and national security.

David Marcus, the co-creator of the Libra cryptocurrency, told members of the House financial services committee on Wednesday that Facebook would not launch the project until it had sign-off from the necessary regulators. But he would not agree to stop working on the plans, as demanded by several senior members of Congress, or to launch it in a limited pilot project first.

From Facebook rejects lawmaker demands to halt cryptocurrency | Financial Times.

xxx

Comments

Post a Comment

Popular posts from this blog

We could fix mobile security, you know. We don't, but we could

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. In case you think I was exaggerating… The thieves also provided “free” wireless connections in public places to secretly mine users’ personal information. From Gone in minutes: Chinese cybertheft gangs mine smartphones for bank card data | South China Morning Post Personally, I always use an SSL VPN when connected by wifi (even at home!) but I doubt that most people would ever go to this trouble or take the time to configure a VPN and such like. Anyway, the point is that the internet isn’t secure. And actually SMS isn’t much better, which is why it shouldn’t really be used for securing anything as important as home banking. The report also described how gangs stole mobile security codes – which banks automatically send to card holders’ registered mobile phones to verify online transactions – by using either a Trojan...
Post a Comment
Read more