A group of organizations in the United States called on Congress to freeze the development of Libra

More than 30 various public organizations in the United States signed an open letter to Congress with a request to suspend or cancel the development of steyblcoin Libra.

“We call on Congress and regulators to impose a moratorium on the Libra project and related plans before answering the questions asked,” the letter says.

The questions in question are the inquiries of Maxine Waters, Chairman of the Financial Services Committee of the US House of Representatives Maxine Waters, who also previously asked to stop developing Libra.

A group of representatives of organizations asks what effect steyblecoin will have on the global economy, especially on the lives of people who do not have access to banking services. They are also concerned with project management and how Libra will affect the monetary policies of small and developing countries.

The main issues raised in the letter are the issues of steklkoin compliance with the requirements of regulators in the field of anti-money laundering (AML) and user identification.

“Would Libra be a convenient mechanism for money laundering? Will the Libra consortium apply AML rules from different countries? Will the technology allow to introduce standards for user identification? Will all purse vendors be required to follow such rules? Should a private association deal with the application of such standards? ”, The letter asks.

Recall that on July 17, the Financial Services Committee of the US House of Representatives will hold a hearing on the Libra cryptocurrency. A similar hearing from the US Senate Committee on Banking, Housing and Urban Affairs will take place the day before.

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