Jerome Powell, US federal reserve Chairman, said that Facebook’s cryptocurrency project could not « go forward » until it has responded to regulators’ main concerns.
« I don’t think the project can go forward without addressing those concerns », he stated.
On July 17th, the US House Financial Services Committee will hold a hearing on issues related to the Libra project.
« I support financial innovation as long as appropriate risks are identified, but Facebook has more than a few billion users. (…) Libra is different from any other digital money project, » explained Powell.