• Sat, 21 Sep 2019, 11:32 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

International data protection and privacy enforcement authorities seek clarity on Facebook’s Libra

Tue, 06 Aug 2019, 11:15 am UTC

Representatives from a number of data protection and privacy enforcement authorities from around the world have issued a joint statement on global privacy expectations of the Libra network.

Signatories include Besnik Dervishi, Information and Data Protection Commissioner, Albania; Angelene Falk, Australian Information and Privacy Commissioner; Daniel Therrien, Privacy Commissioner, Canada; Marguerite Ouedraogo Bonane, President of the Commission for Information Technology and Civil Liberties, Burkina Faso; Giovanni Buttarelli, European Data Protection Supervisor; Elizabeth Denham CBE, Information Commissioner United Kingdom; and Rohit Chopra Commissioner of the Federal Trade Commission U.S.

The letter is addressed to Facebook and 28 other companies behind the Libra project and asks them to provide details of how they plan to process customers’ personal data in line with data protection laws.

“To date, while Facebook and Calibra have made broad public statements about privacy, they have failed to specifically address the information handling practices that will be in place to secure and protect personal information,” the statement reads.

The authorities ask for assurances from the companies that only the minimum required data will be collected, that the service will be transparent. They also seek details as to how data will be shared between members of the Libra Network.

In all, the letter lists six broad questions largely related to data protection and privacy issues. The authorities also said that they may individually follow up with Libra with more specific questions as the proposals and service offering develops.

“The ambition and scope of the Libra project has the potential to change the online payment landscape, and to offer benefits to consumers. But that ambition must work in tandem with people’s privacy expectations and rights,” Denham said.

“We know that the Libra Network has already opened dialogue with many financial regulators on how it intends to comply with financial services product rules. However, given the rapid plans for Libra and Calibra, we are concerned that there is little detail available about the information handling practices that will be in place to secure and protect personal information.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,046.00 (-1.32%)
  • Ethereum (ETH) $215.57 (-0.90%)
  • XRP (XRP) $0.290200 (-1.06%)
  • Bitcoin Cash (BCH) $311.45 (-2.11%)
  • Litecoin (LTC) $73.89 (-2.22%)
  • Bitcoin (BTC) $10,046.00 (-1.32%)
Sep 20, 2019 (Friday)
14:09
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
14:08
Crypto Technicals: LTC/USD Technical Analysis Summary
12:44
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:57
Azerbaijan's State Customs Committee seeks to exchange information with global counterparts via blockchain
10:17
Coinbase considers listing 17 new digital assets including Kadena and Telegram
10:08
Crypto Technicals: ETH/USD consolidates previous session's gains, bias bullish above 200-DMA
09:56
US Congress’ upcoming hearing with SEC to focus on cryptocurrencies and Libra
08:41
Crypto Technicals: BTC/USD retraces from 3-week lows, resumes range trade, bias neutral
07:01
Square Crypto taps former Google, Facebook and Lightning Labs execs for inaugural developer team
06:22
Crypto Technicals: XTZ/USD struggles at 200-DMA resistance (1.1209), break above to see further gains
06:22
Bank of America joins blockchain-based trade finance network Marco Polo
05:25
Patrick Byrne sells off his $100M Overstock stake to buy cryptocurrencies, blames 'deep state' and SEC
05:14
Early ethereum supporter Steven Nerayoff faces $12M cryptocurrency extortion charges
05:09
Crypto trader Genesis acquires Qu Capital to bolster trading technology
04:30
Crypto Technicals: IOT/USD Technical Analysis Summary
03:43
Pakistan's Faysal Bank becomes the country's first bank to adopt Ripple's xCurrent technology
03:40
All 7-Eleven stores in the Philippines now sell bitcoin, thanks to the new partnership of Abra, ECPay
03:37
Arab Bank Switzerland partners with Taurus to offer cryptocurrency services to its wealthy clients
03:34
IBM, Citibank, Ubisoft signed up as corporate partners of Singapore's blockchain accelerator Tribe
Sep 19, 2019 (Thursday)
12:27
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft