Damian Collins, the chairman of the British Parliament’s Digital, Culture, Media and Sport Committee, who led an 18-month investigation into the company following the Cambridge Analytica data scandal, wants Facebook's Libra project to be probed.
According to the interview he had with Financial News on July 22, one of the major reason he wants the project to be probed is because he feels if Facebook is allowed to carry-on the project, the firm will hold too much power.
His is also concerned whether Facebook have the ability to keep the personal financial details of billions of users safe considering thebreach of its users privacy in previous years.
Collins believe that Libra would make Facebook become its own country with no physical boundaries, and which is solely headed by its CEO Mark Zuckerberg.
He also argued that Libra “is going to be open to massive fraud,” as it would be created and controlled by Facebook and be inaccessible by anyone outside a “Facebook walled garden.”
Damian is know to be Facebook's critic, In February this year, Reuters published a report where British lawmakers urged that Facebook should become a subject to a new regulator to protect democracy and citizens’ rights, that the social media “intentionally breached data privacy and competition law.”
As at that time, Collins said the age of inadequate self-regulation must end, adding that Facebook had “intentionally and knowingly violated both data privacy and anti-competition laws.”