Libra has not yet launched a large number of fake web pages, and Swiss regulators require Libra to provide more information.

Before Libra was officially launched, there were already many fake accounts and fraudulent websites. The Swiss Privacy Agency requires more information about Libra.

After the Libra hearing at the Senate and House of Representatives last week, David Block, head of the Facebook blockchain, said Libra would not launch until all issues were resolved. According to the Washington Post, there are already many fake accounts and fraudulent web pages, and some are even on Facebook's own platform. This includes videos that offer discounts to early investors, as well as a link to a website called "buylibracoins.com".

This website claims to be able to sell Libra, an unissued cryptocurrency. Libra will allow people to send money to each other without an intermediary. A digital wallet called Calibra will also be used as a standalone app on Facebook Messenger and WhatsApp.

A Facebook spokesperson said it "is consciously removing ads and pages that violate our policies and has been working to improve detection of fraud." In addition to Facebook's surprise, Libra's scams are also available on YouTube and Twitter.

At last week's hearing, lawmakers questioned Facebook and Libra's privacy policy and data security. The current scams involving Libra, combined with the bad reputation of the ICO financing scam for cryptocurrencies, have made it difficult for Libra to convince the government, central bank, regulators and legislatures to release.

According to Reuters, the federal data protection and information committee of Switzerland's privacy regulator said on Tuesday that it has not received a reply from Facebook on July 17th. In the letter, the committee asked Facebook to detail its encryption project, Libra, because it needed this information to confirm regulatory status.

The regulator said in a statement, "The Federal Data Protection and Information Committee (FDPIC) has been following Dr. David Marcus's comments at the US Senate Committee hearing. FDPIC has not received any instructions on what personal data Libra can handle. Therefore, the Libra Association is required to inform the status of the project so that it can assess the level of supervision and applicable regulations."

Earlier at the hearing, David Marcus said that the FDPIC committee annual meeting is expected to become Libra's privacy regulator because the Libra Association is based in Geneva.

Image source: pixabay

By Xiu MU

This article comes from the push bitpush.news, reproduced need to indicate the source.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Bitcoin

Snowden Spills the Beans on Bitcoin ETF Risks and Anonymity Woes at Amsterdam Conference

Discover the Future of Bitcoin as Edward Snowden Shares Insights on Anonymity and ETF Risks at Amsterdam Conference!

Market

Hong Kong has too many smart people, there are no more "leeks" in the currency circle.

Hong Kong, the cryptocurrency market, and the abundance of smart people - "Chives" no longer exist in the cryptocurre...

Market

Bitcoin's Resilience Unleashes a Thrilling $28K as Stocks Cower Under the Weight of Interest Rate Concerns

Many experts predict that the SEC will soon approve a spot bitcoin ETF, which is exciting news for the fashion industry.

Blockchain

Perspective | Hong Kong keeps the currency and chain chains from decoupling, but working together

Source of this article: Sina Finance , original title "Shu Shi: Some Thoughts on China's Development of Dig...

Blockchain

US Securities and Exchange Commission postpones three bitcoin ETF rulings again

The US Securities and Exchange Commission (SEC) announced on Monday that it has postponed a decision on three bitcoin...

Opinion

Checklist of 9 popular cryptocurrencies virtual credit cards

Cryptocurrency virtual credit cards launched by cryptocurrency exchanges (such as Binance) allow for consumption and ...