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10/23/2019, 5:00 PM (Source: TeleTrader)
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Zuckerberg fails to address Libra money laundering concerns

Speaking in Congress on Wednesday, CEO of Facebook Mark Zuckerberg reiterated that the company he heads is "committed to getting all approvals before launching Libra" in the United States and any other country.

When asked why Libra was left by a number of "stable partners," including MasterCard and Visa, Zuckerberg stated that it would be better to pose the question to the potential partners. In his opinion, those companies are reconsidering involvement because the project is "risky" and has been under "a lot of scrutiny" as of late.

Zuckerberg tried and somewhat failed, to relieve congressmen's concerns regarding the issue of money laundering after they dubbed the currency as a "perfect vehicle for laundering money." One of the representatives told him that it is not possible to have a strong anti-money laundering system and anonymous wallet owners at the same time, to which he replied that Libra will apply the "same standards" on money laundering like any other "world-class system."

Breaking the News / GG