Regulators from around the world have released a statement over the privacy risks associated with Facebook’s Libra cryptocurrency service. The joint statement was signed by Commissioner of the U.S. Federal Trade Commission Rohit Chopra, Privacy Commissioner of Canada Daniel Therrien, U.K. Information Commissioner Elizabeth Denham, European Data Protection Supervisor Giovanni Buttarelli and commissioners from Albania and Australia. In the statement, regulators asked how the service will be transparent about data use and how Libra will implement privacy by design principles. “We, the signatories to this statement, represent a cross section of the data protection regulation community,” the statement reads. “And while there are differences in our regulatory frameworks and cultures, the potential risks associated with the Libra Network and our expectations of the Libra Network to protect personal information are common to us all.”
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