• Thu, 21 Nov 2019, 09:44 PM
  • 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) $7,633.15 (-5.02%)
  • Ethereum (ETH) $160.35 (-8.83%)
  • XRP (XRP) $0.243100 (-3.16%)
  • Bitcoin Cash (BCH) $225.01 (-7.85%)
  • Litecoin (LTC) $50.84 (-8.25%)
  • Bitcoin (BTC) $7,633.15 (-5.02%)
Nov 21, 2019 (Thursday)
14:01
Binance.US teams up with crypto brokerage Tagomi to offer institutional liquidity
12:29
Chinese authorities move forward with plans to introduce blockchain standardization
11:54
Crypto Technicals: XRP/USD grinds lower capped below 5-DMA, bearish bias intact
10:15
Malta-based Binance acquires Indian crypto exchange WazirX
09:30
Crypto Technicals: ETH/USD drops below cloud, hits new 4-week lows, bias bearish
09:11
TradeStation Group's new crypto brokerage platform launches for approved countries, U.S. states
08:52
Libra will be classified once it goes live; PayPal explains why it backed out of the Association
07:56
Facebook’s Libra marches ahead, logs 34 projects since testnet launch in September
06:47
Crypto exchange Shapeshift introduces commission-free trading
06:36
Crypto Technicals: LTC/USD confirms 'Death Cross' on 4-hour charts, scope for downside resumption
06:04
Bitcoin.com to launch $200M bitcoin cash investment fund in 2020
05:34
CryptoCompare drops Binance out of its Exchange Benchmark; Hacking incident cited behind the decision
04:50
Crypto Technicals: BTC/USD extends consolidation above 55W EMA (7951), bias bearish
04:50
1.4M GateHub user information compromised five months after it suffered a hacking incident
04:46
$400M of Ripple’s XRP token linked to illicit activity: Elliptic
03:01
Federal Reserve chairman doesn’t see benefits of CBDC for U.S. consumers
Nov 20, 2019 (Wednesday)
12:47
MAS launches consultation on allowing crypto derivatives trading on approved exchanges
11:49
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:49
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:22
Chinese firms HDFH, ZVCA and Yillion Bank launch $1B blockchain investment fund
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft