{"id":400527,"date":"2019-10-04T20:00:21","date_gmt":"2019-10-04T20:00:21","guid":{"rendered":"https:\/\/wncen.com\/?p=400527"},"modified":"2019-10-04T17:43:04","modified_gmt":"2019-10-04T17:43:04","slug":"petition-to-ban-facebooks-libra-crypto-asset-reaches-55000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/petition-to-ban-facebooks-libra-crypto-asset-reaches-55000\/","title":{"rendered":"Petition to Ban Facebook’s Libra “Crypto” Asset Reaches 55,000"},"content":{"rendered":"
European<\/a> NGOs have launched a petition against Facebook’s recently-detailed crypto asset-like digital currency, Libra. The effort seeks to make EU policy makers aware of apparent public resistance to the plans.<\/p>\n So far, more than 55,000 individuals have signed the petition. However, any attempt to outright ban an entirely voluntary alternative to a jurisdiction’s official currency could serve to endanger the rest of the crypto asset industry.<\/p>\n The petition<\/a> appealing to the European Union to ban Facebook’s efforts in the crypto asset industry is addressed to Ursula von der Leyen, President-elect of the European Commission; Mario Draghi, outgoing President of the European Central Bank; and Christine Lagarde, incoming ECB president. It was launched by Finance Watch and Finance Watch Deutschland, two non-government organisations researching financial regulation.<\/p>\n Accompanying the petition is a post explaining the potential dangers that the NGOs perceive with the yet-to-be launched digital currency. It opens by reminding readers of previous incidents involving Facebook’s scant regard for users’ privacy, such as the recent Cambridge Analytica scandal:<\/p>\n “Facebook has already breached our privacy countless times. Now, the big tech giant is preparing to invade one of our last areas of privacy: our money.”<\/p><\/blockquote>\n Finance Watch references the petition on Twitter with regards another recent Libra development a few days ago. Some of the big name backers of the project are apparently shying away from publicly supporting it. However, it’s not immediately clear from the petition when the NGOs launched it. That said, the rate at which new signatures are being added is rapid. During the hour between pitching and finalising this article, the count has risen by more than 1,500 names.<\/p>\n Wary of regulatory scrutiny (but what did they expect?!), key partners shy away from publicly supporting Facebook's #Libra<\/a> project! \ud83d\udce2 Let's keep increasing pressure \u270d sign our petition to #StopLibra<\/a> https:\/\/t.co\/FOSQ9AehOb<\/a> https:\/\/t.co\/BYUTIiuOwZ<\/a><\/p>\n — Finance Watch (@forfinancewatch) October 2, 2019<\/a><\/p><\/blockquote>\nNGOs Decry Facebook’s “Crypto”: “Power of the Big Tech Giants is Already Almost Uncontrollable”<\/h2>\n
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