The US Senate Committee on Banking, Housing and Urban Affairs asked Facebook head Mark Zuckerberg (Mark Zuckerberg) to provide information about the social network cryptocurrency project ( Facebook Coin ).
In a letter addressed to Mark, the Committee emphasizes the importance of certain aspects of consumer protection and asks Zuckerberg how the social network plans to protect the financial information of users.
Lawmakers also want to know whether Facebook is sharing user information with third parties and not selling this data to them.
Last year, one of the most popular social networks in the world became involved in several scandals related to user data. In April last year, Zuckerberg testified in Congress about the principles of the company. Canadian lawmakers also wanted to listen to Mark after it became clear that Facebook is violating Canada’s privacy laws.
Does the committee care about users?
In addition, the Senate Committee is interested in whether Facebook has any information about the solvency, creditworthiness, user viability, as well as other information that may affect their ability to secure a loan.
As for the cryptocurrency of Facebook Coin, rumors about its appearance appeared in December 2018, when Bloomberg reported that the social network is developing a token for use in WhatsApp to transfer funds.
In February, the newspaper The New York Times wrote that the token will be used on several platforms, including Facebook and Instagram itself. In addition, anonymous sources said that the coin will be a steyblecoin pegged to a fiat currency.
Publication date 11.05.2019
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