Risks Posed By Facebook’s Libra Must Be ‘Addressed’ Before Launch – G20

Facebook’s proposed digital currency creates “serious” risks of money laundering, fraud and illicit finance, the Group of 20 economies said Friday, adding to the … Continue reading Risks Posed By Facebook’s Libra Must Be ‘Addressed’ Before Launch – G20

By oluchi

Updated October 18, 2019

This file photo taken on February 18, 2019 shows the US social media Facebook logo displayed on a tablet in Paris. French Senate approved in the night between May 21 and May 22, 2019 a new tax on digital giants (“Gafa”), such as Google, Amazon, Facebook and Apple, carried through Finance Minister Bruno Le Maire. Lionel BONAVENTURE / AFP

Breaking Up Facebook Isn't The Answer, Says Zuckerberg — This file photo taken on February 18, 2019 shows the US social media Facebook logo displayed on a tablet in Paris.
Lionel BONAVENTURE / AFP

Facebook’s proposed digital currency creates “serious” risks of money laundering, fraud and illicit finance, the Group of 20 economies said Friday, adding to the resistance the proposed digital currency faces.

“Such risks… need to be evaluated and appropriately addressed before these projects can commence,” the Japanese presidency of the Group of 20 forum said in a statement.