Cryptocurrencies
Fed’s Powell Is as Unsure as Anybody How the Government Will Handle Libra
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Federal Reserve Chairman Jerome Powell’s shrug could be heard all the way to Silicon Valley.
Like everybody else in government, the U.S. central bank chief is unsure how regulators will handle Facebook Inc.’s plan for a digital currency called Libra. He made that clear at a Senate hearing Thursday where he reiterated concerns about the cryptocurrency’s potential for fomenting money laundering and financial instability problems. And he expressed specific worries over customers’ privacy.