Other lawmakers demanded hearings and questioned whether the coin, called Libra, would have appropriate oversight. “Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data,” Waters said in a statement. “We look forward to responding to lawmakers’ questions as this process moves forward,” a Facebook spokeswoman said. However, like others, he did not identify a particular watchdog, perhaps signaling uncertainty over who might police Libra. States and banking regulators such as the US Federal Reserve could potentially have a role in regulating Libra.

Source: Taipei Times June 19, 2019 16:05 UTC