One of the best factor about Facebook’s proposed digital forex isn’t its BTF consensus algorithm, account-based knowledge mannequin or single Merkle tree construction. No, the best factor about Libra needs to be the triggered reactions from politicians and bankers who can sense the rug being pulled from below their ft, threatening their hegemony and upending their world view. Listed below are eight memorable quotes from incensed officers.
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Undertaking Libra Has the Elite up in Arms
“Massive tech in finance: alternatives and dangers,” a report by the Financial institution for Worldwide Settlements (BIS):
Regulators want to make sure a degree enjoying subject between large techs and banks, bearing in mind large techs’ broad buyer base, entry to info and broad-ranging enterprise fashions.
Translation: “This isn’t truthful!”
Maxine Waters, chair of the U.S. Home Monetary Providers Committee:
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