Your Web News in One Place
October 9, 2019 03:31 pm

Senators pressure Visa and Mastercard over work on Facebooks blockchain project

Illustration by William Joel / The Verge

Lawmakers have begun actively pressuring members of the Libra Association, the international blockchain payments project led by Facebook, to reconsider their involvement with the group.

In a new letter sent to the CEOs of Visa, Mastercard, and Stripe, Sens. Brian Schatz (D-HI) and Sherrod Brown (D-OH) warn of enormous risks inherent in the Libra project, including facilitating criminal and terrorist financing and destabilizing the global financial system. The letter also suggests the companies would face increased oversight from financial regulators in their conventional, non-blockchain businesses if they continue with the association.

“...

Continue reading…


Original Link: https://www.theverge.com/2019/10/9/20906348/libra-association-visa-mastercard-stripe-blockchain-us-lawmakers-schatz-sherrod-brown

Share this article:    Share on Facebook
View Full Article

The Verge

The Verge is an ambitious multimedia effort founded in 2011

More About this Source Visit The Verge