Home » Global Regulators Express Concerns Over Privacy Risks of Libra

Global Regulators Express Concerns Over Privacy Risks of Libra

Data protection chiefs has published a joint statement in which raised the concerns over the privacy risks posed by Facebook’s Libra.
news - Global Regulators Express Concerns Over Privacy Risks of Libra

Data protection chiefs has published a joint statement in which raised the concerns over the privacy risks posed by Facebook’s Libra.

The U.K. Information Commissioner’s Office (ICO), data privacy commissioners from Australia, Canada, Albania, Burkina Faso, the EU, the U.K., the U.S., shared concerns that “while Facebook and [its crypto wallet-focused entity] 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.”

They also set out a list of questions that Facebook is expected to address, including how the Libra Network will provide end users with clear information on how their data will be used by project participants and how it will ensure that default privacy setting will “not use nudge techniques or “dark patterns” to encourage people to share personal data with third parties or weaken their privacy protections.”

In the extensive list of questions, the group further seeks reassurance that Facebook would use “only the minimum amount” of personal data as required for the service, and “ensure the lawfulness of the processing.”

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