FACEBOOK LIBRA UPDATES
FACEBOOK LIBRA UPDATES

$0.03 tipped


Facebook has hired a former aide to the chairman of the U.S. Senate Banking Committee to lobby for its new Libra cryptocurrency project.

It was reported on Monday that Susan Zook of Mason Street Consulting, who previously assisted Senator Mike Crapo (R-Idaho), is going to join a team of lobbyists aiming to influence lawmakers on the Libra initiative.

The report added she would work on lobbying Senate Republicans. The news comes just weeks after the Senate Banking Committee held a meeting over Facebook’s Libra cryptocurrency and raised questions about its privacy, data protection, and anti-money laundering issues. 

 

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Facebook unveiled the intention to lunch the libra project but is suffered several attacks as several financial regulators raised regulatory concerns over the project’s ambition.

Also, there is a report that Facebook has spent more than $7.5 million on lobbying efforts this year. In addition to hiring in-house lobbyists, the company is retaining over a dozen third party lobbying firms to work on the Libra issue, including the Sternhell Group and the Cypress Group.

In June, Facebook reportedly hired Edward Bowles, who was a former senior bank lobbyist from Standard Chartered focusing on group public and regulation.

All hands are on deck to convince the Senate that the Facebook libra project will be beneficial rather than damaging as many envisaged.

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https://www.clickz.com/facebooks-libra-concerns-interests-benefits-and-experts-reactions/246611/


How beneficial is Libra

  • Libra can be a great opportunity for businesses to expand their client base. Facebook aims to bring customers closer to businesses across the world in an improved way that feels easier, stable and more secure.
  • In regards to e-commerce, Online transactions will be made in a matter of seconds, Libra would create an avenue for online retailers to market their products
  • Facebook is the most powerful social media platform in the world and the ability to set up a new currency system makes it very appealing for businesses that want to make the most of social media.
  • Libra sets a great opportunity for the online marketing industries as they will no longer have to deal with banks
  • payments could be made anonymously hence protecting the privacy of a customer

Let’s hope that facebook manages to find a way to convince the US senate about libra.


cyprain
cyprain

i am a web author and content developer


BITCOIN AND ALT-COIN PRICE MANIPULATION
BITCOIN AND ALT-COIN PRICE MANIPULATION

It is no longer news that there might be some kind of manipulation in the market, what is however interesting is that some recent players have claimed to be able to revolutionize the crypto market by introducing Stable coins.

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