In the U.S. Senate urged Visa and Mastercard to refuse to participate in the project Libra

Two U.S. senators urged the largest payment companies to reconsider their plans for participation in the project of the digital currency Facebook, writes Bloomberg.

In the opinion of Sherrod brown and Brian Schatz, Libra carries risks not only to global financial systems, but also for the business of payment companies. About it lawmakers said in reference to Visa, Mastercard and PayPal.

“Congress, regulators and potential members Libra Association tried unsuccessfully to get Facebook enough information about the risks that may present Libra, including the promotion and financing of crime and terrorism, the destabilization of the world financial system, intervention in monetary policy or the exposure of consumers to risks”, — said the senators.

They urged the company to “carefully consider” how they cope with those risks, given that Facebook has not demonstrated a serious attitude to him.

Brown and Schatz recalled that the social network is now facing such serious challenges as a violation of data privacy, dissemination of misinformation, interference in elections, discrimination and fraud. While Facebook has not demonstrated the ability to control their mistakes, according to the senators.

“You must be troubled by any weaknesses in risk management systems, Facebook will be weaknesses in your systems you will not be able to effectively mitigate”, wrote brown and Schatz.

Earlier it was reported that the partners Libra Association Visa payment Visa, Mastercard, PayPal and Stripe are hesitant to formally join the project Facebook digital currency due to regulatory risks. But while a refusal to participate in the project confirmed PayPal only.


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