FILE PHOTO: a Small toy figures in the painting are to be seen in the representations of the virtual currency in the front end of the Scale, the logo in this illustration picture the 21 of June, 2019 at the latest. REUTERS/dado Ruvic/Picture/File Picture
(Reuters) – the uk’s data protection watchdog, said on Monday that it had, together with her colleagues from all over the world calling for more transparency on Facebook’s proposed Scale is a digital currency.
Facebook is to launch on the Scale of next year, have prompted warnings from politicians, regulators and central banks that must be closely regulated in order to avoid any disruption of the international financial system.
The uk’s Information Commissioner’s Office, said on Monday it had posted to Facebook and 28 other companies are behind it, the Scale of project that requires them to provide details of how customers ‘ personal data will be processed in accordance with the law on protection of personal data in connection with the project.
The statement also calls for assurances that only the minimum amount of data to be collected, and that it will be transparent, and to request that the details of how the data is to be shared between the Scales of the members of the Network, and the Information Commissioner’s Office said.
Facebook does not immediately respond to a request for comment.
The certificate is signed by a representative of the authorities concerned to represent the millions of people in Europe, south America, Africa, and Australia. These include the uk’s Information Commissioner, Elizabeth Denham, and to her colleagues in other countries, such as Australia, the United States, Canada, australia and the European Union, the European union agency for fundamental rights.
In switzerland, the data privacy watchdog has requested information from Facebook about the Scale cryptocurrency project to help define its regulatory role with the proposed digital currency.
In the last month or so, and the Group of Seven finance ministers and central bankers said the Scales should be arranged so as to be as close as possible to that he does not get angry, on the world’s financial system.
Reporting by Noor Zainab Hussain in Bengaluru; additional reporting by Samantha Machado, in Bengaluru. Editing by Jane Merriman