6 ms·
can anyone tell me if people in Iran can use it? this doesn't really answer my question: https://libra.org/en-US/security-privacy/#overview https://libra.org/e
by VMG 7y ago
can anyone tell me if people in Iran can use it?
this doesn't really answer my question: https://libra.org/en-US/security-privacy/#overview https://libra.org/en-US/security-privacy/#overview
> Working with Law Enforcement
> As with any currency or financial infrastructure, bad actors will try to exploit the Libra network. While the network is open and accessible to everyone with internet access, the network's main endpoints will need to follow applicable laws and regulations and collaborate with law enforcement. In addition, because transactions on the Libra Blockchain are pseudonymous, it is possible for third parties to do analysis to detect fraud and illegal activity.
- buboard 7y agoIt's based in Switzerland. So maybe yes?
- VMG 7y agoSo is Libra following Swiss law? Does US law not apply to Libra? Can Facebook still be associated with it then?
- buboard 7y agoreading the whitepaper , it seems everything will be managed by the swiss company. facebook is just one of the partners. [As another user mentioned, the company that makes the wallet is US based and will enforce sanctions. But maybe that means that another of the partners can make a wallet to use in sanctioned countries?]
- jrvxo 7y agoIf it's based in Switzerland why would US law apply to it?
- ceejayoz 7y agoBecause as some have found out, US law kinda applies everywhere. https://en.wikipedia.org/wiki/Raoul_Weil https://en.wikipedia.org/wiki/Raoul_Weil
- mtgx 7y agoThe better question is "Why does Facebook think that being based in Switzerland will protect them? It's been a while since Swiss banks were last immune to U.S. government pressure. Or even pressure from other countries. I can't bother to find the links now, but there were a couple of stories during Obama's time, about the US government arresting people based on their financial transactions in Switzerland.
- delfinom 7y agoBecause the US can go after every single American company that's part of the association that runs it.
- envy2 7y agoThere's a difference between Libra (the Swiss-based association) and Calibra (the US-based FB subsidiary making the first wallet). > "Calibra will do its part to facilitate the efficacy of international sanctions regimes. We will administer and enforce applicable sanctions programs including, for example, U.S., EU, and U.N. sanctions programs." https://scontent.fbhx3-1.fna.fbcdn.net/v/t39.2365-6/65083631_355528488499253_8415273665234468864_n.pdf?_nc_cat=106&_nc_ht=scontent.fbhx3-1.fna&oh=0a4cba967c1bb95cfc88116abd95a193&oe=5D982AC3 https://scontent.fbhx3-1.fna.fbcdn.net/v/t39.2365-6/65083631...
- VMG 7y agoSo the wallet software will enforce the sanctions? If somebody writes an open-source wallet they can circumvent the rules? I don't get it.
- delfinom 7y agoBasically the Feds will crack down hard on Facebook and co enabling Iranians and others on sanction lists. It's no joke and it's one of the few things that will result with executives in jail compared to all that should but doesn't.