British MP: Libra shows that Facebook wants to become its own country

Jul 24, 2019

Facebook has encountered a lot of problems since they revealed that they are planning to release the cryptocurrency libra next year.

Among other things, the US Congress is considering banning libra, and the country’s President Donald Trump has tweeted negatively about the cryptocurrency.

Now comes even more criticism, this time from the other side of the Atlantic.

Wants to be their own country

It is the Conservative British MP Damian Collins who is suspicious of Facebook’s ambitions with the project.

“For me, libra shows that Facebook is trying to transform itself into its own country”, Damian Collins says to the Financial News. The MP is also skeptical of Facebook’s handling of users’ account information.

Damian Collins is chairman of the parliamentary committee responsible for digitisation issues. The remaining members of the committee are also critical of Facebook’s plans, the Financial News reports.

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