Fed’s Powell says Libra can’t move forward without addressing lingering concerns84

U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook’s Libra project cannot “go forward” without first addressing concerns regarding money laundering, privacy, and customer protection, among other issues.

In a testimony before the U.S. House of Representatives Financial Services Committee, Powell cautioned that regulators should be “patient and careful” when reviewing the Libra project, since no existing rules can fit cryptocurrencies. He also mentioned that the Fed has established a working group to monitor the project.

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