Reply to post: Right reasons, please

France says 'non merci' to Facebook-backed Libra cryptocurrency

doublelayer Silver badge

Right reasons, please

There is a problem with this statement. This cryptocurrency is not really a money laundering or funding terrorism risk, at least not more than any other cryptocurrency or thing with value that can be traded. It is a profound risk because of user privacy and corporate control reasons. Why is this distinction important? Shouldn't we accept that the thing is being held up and not complain? No, we shouldn't and I won't, because, if Facebook can keep all complaints about crimes that could be committed by someone else, they can come up with pretty reasonable arguments why those objections don't apply. Then, the system will be seen by governments and assorted nontechnical people as having been analyzed thoroughly by all sorts of places when in fact the important issues have been ignored. We need to keep the focus on user privacy and control and not let someone else divert the discussion.

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