Facebook’s Libra cryptocurrency project continues to raise concerns among regulators and authorities around the world.
Data privacy regulators from several countries, including the UK, recently published a joint statement, expressing their worries about the project and Facebook’s ability to protect user privacy.
“As representatives of the global community of data protection and privacy enforcement authorities, collectively responsible for promoting the privacy of many millions of people around the world, we are joining together to express our shared concerns about the privacy risks posed by the Libra digital currency and infrastructure,” the statement, which was signed by information and data privacy commissioners from the UK, the EU, the US, Australia, Canada, Burkina Faso and Albania, reads. The regulators noted that because of Facebook’s expansive data collection on “hundreds of millions of users”, the privacy risks were not limited to only financial privacy.
Facebook’s newly-launched blockchain subsidiary…