Lawmakers try to halt Facebook’s Libra over privacy and security fears

Swiss-based financial system potentially storing trillions of dollars could be target for hackers

stopping systemic risk
Stop motion: five democrats formally request that Facebook agree to delay on crypto project

A group of Democratic lawmakers in the US have formally asked Facebook chief executives to halt any further developments on its proposed cryptocurrency and digital wallet, citing privacy and national security concerns.

The five lawmakers said that with Facebook already being used by more than a quarter of the world’s population, it is imperative the social media company and its partners immediately cease implementation plans until regulators and the US Congress investigate these risks.

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