U.S. Fed Governor Latest to Take Aim At Embattled Libra Project

A top U.S. Federal Reserve official warned this week that Facebook's planned Libra cryptocurrency could present "a number of risks" to consumers and the financial system — adding to the chorus of criticism that has hounded the social network's controversial project since it was announced in June.

In a speech Wednesday, Lael Brainard, a member of the Fed's Board of Governors, cautioned that Libra presents a “core set of legal and regulatory challenges” related to consumer protection, anti-money laundering (AML) and monetary policy.

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