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For 85 years CR has worked for laws and policies that put consumers first. Learn more about CR’s work with policymakers, companies, and consumers to help build a fair and just marketplace at TrustCR.org

CR letter to Senate Banking Committee on Libra, Facebook’s proposed digital currency

Facebook’s Libra proposal is fraught with problems, and raises concerns about competition and market concentration, monetary policy, compliance with Know Your Customer and Anti-Money Laundering rules, and other critical issues.   CR’s letter focuses on two issues of direct concern to consumers: the lack of consumer protections for cryptocurrency and Facebook’s inability to be a trusted steward of user data.