Libra, the underfire planned cryptocurrency from Facebook (NASDAQ:FB), has been described as a monetary threat by senior US bank executives in a meeting with the Federal Reserve.
Senior Bank Execs Opposed to Libra
Libra has been heavily scrutinized by regulatory bodies and financial institutions across the globe since it was first announced back in June and has been dealt a further blow following a meeting of the Federal Advisory Council this month. Members of the council include M&T Bank CEO Rene Jones, KeyCorp’s Beth Mooney, and Brian Moynihan, CEO of Bank of America.
“Facebook …
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