Facebook’s executive in charge of Calibra and the proposed Libra cryptocurrency is currently attending a hearing at the United States hearing to answer questions regarding the scope and the expectations surrounding the crypto. Marcus has told the Senate that the United States needs to be at the forefront of Libra regulation.
According to Marcus Calibra wallet will put measures in place to offer consumer protection against fraud. To set up a Libra account consumer will have to provide a government identification document. There will be other authentication programs and email programs to ensure the authenticity of the users.
Facebook is also working with regulators including FINCEN to ensure that Libra is within the laws of the jurisidiction in which it will operate.
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