United Kingdom’s Data Protection Agency Is Concerned About Facebook’s New Project Libra


The United Kingdom’s Information Commissioner’s Office has recently decided to request that the Libra Association should provide more details on how the group will protect the data that will be gathered by the users of the upcoming Facebook Libra stablecoin.

According to this latest report, all the 28 organizations that form the association should explain how the data will be taken from the users will be protected in order to be on par with the current standards of data protection.

The letter, which is signed by many authorities of the country, highlights that some concerns are raised especially because Facebook has already been known to collect data from people and to fail to properly secure it.

Taking this into account, the agency is fairly concerned about what may happen if the citizens of the U. K. are subject to a leak of their financial information because they used Libra.

The document states that the agency is already aware that the Libra Association has opened a dialogue with several relevant financial actors, but what concerns the regulatory watchdog the most is that many important details are still lacking right now, as they were not made public yet.

This is especially concerning when considered that despite the Libra Association not revealing enough information, there is no shortage of people actually asking for it.

David Marcus, a representant of Facebook, was recently called to a Senate hearing in order to talk with U. S. lawmakers to determine the risks of the project. At the time, not all the questions were properly answered, so it remains to be seen whether they will be now.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide