Facebook 's plan to launch its own website is facing increasing criticism due to concerns regarding the use of open banking and the privacy of its users . The Bank for International Settlements has joined a long list of organisations to criticise the move , claiming it would reduce competition and create concerns regarding data retention due to a lack of regulation .
Facebook's plan to launch its own cryptocurrency is facing mounting criticism due to concerns regarding the future of open banking and the privacy of its users. The Bank for International Settlements has joined a growing list of organisations to criticise the move, claiming it would reduce competition and create issues regarding data privacy due to a lack of regulation.