October 22, 2019 / 3:39 PM / a month ago

U.S. Treasury Secretary Mnuchin calls Libra's 2020 launch 'premature'

FILE PHOTO: Small toy figures are seen on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/File Photo/File Photo

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said Tuesday that he has told Facebook that its efforts to launch a cryptocurrency, Libra, by mid-2020 are “premature.”

Testifying before the House Financial Services Committee, Mnuchin said the project still faces several “fundamental issues” that must be addressed before any launch, including how it would prevent money laundering and other illicit activity.

Reporting by Pete Schroeder; Editing by Chizu Nomiyama

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below