U.S. Senate opens hearing into Facebook plans for Libra cryptocurrency

U.S. lawmakers from both sides of the aisle were set to grill Facebook on its cryptocurrency plans on Tuesday, as the project continues to draw intense scrutiny from financial regulators and politicians across the globe.

"Facebook has demonstrated through scandal after scandal that it doesn't deserve our trust," Sen. Sherrod Brown, D-Ohio, the ranking member of the Senate Banking Committee, said in his opening remarks."We'd be crazy to give them a chance to let them experiment with people's bank accounts." Marcus, who was president of PayPal from 2012 to 2014, tried to assuage concerns in his opening remarks by promising that Facebook will not begin offering Libra until regulatory issues are addressed.

He is also likely to face skepticism from Republicans after U.S. President Donald Trump and Treasury Secretary Steven Mnuchin voiced concerns. Rumors had surfaced as early as last year that Facebook was working on a digital currency, but news that the project was in its advanced stages started to emerge only in recent months.

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Senate to grill Facebook over plans for Libra cryptocurrencyU.S. lawmakers from both sides of the aisle are set to grill Facebook Inc on its... libra is not a cryptocurency!!! So they want the crypto to be controlled like money. Thankfully the crypto market is big and these crooks won’t be able to control it. cryptocurrency Are we talking about the same Senate that doesn’t even know how to use Facebook
Source: Reuters - 🏆 2. / 97 Read more »

Watch Facebook's crypto chief testify before the Senate banking committee on LibraThe head of Facebook's cryptocurrency projects David Marcus testifies before the Senate Committee on Banking, Housing and Urban Affairs. I can tell how he's talking with his hands he's going to kill the Bitcoin rally faster than Trump did. It's a payment network, a digital asset to use the network. That simple. Guarantee he overcomplicates it and crypto markets dive today.
Source: CNBC - 🏆 12. / 72 Read more »

Reuters Top News @ReutersSenate holds hearing on Facebook's proposed digital currency Libra So number of followes will decide how rich you are They will find a way to regulate and basically ban Libra. To do otherwise would be to cede control of the USD and the world debt money system. You already can hear this path in the statements being made. the start of the great cash removal, these people want access to every single penny in the world, ultimately they want to know where every penny is going,,, KEEP HOLD OF YOUR CASH.
Source: Reuters - 🏆 2. / 97 Read more »

Peter Thiel Cries Treason On Google; Senate Grills Facebook Over New Crypto Libra; Celebrating Gay Computer Pioneer Alan TuringTopline: Billionaire Peter Thiel has called Google's work with China 'seemingly treasonous'; The Senate Banking Committee will grill Facebook executives later today on their plan to launch a new cryptocurrency, Libra; Gay computer pioneer Alan Turing is honored on the UK's new £50 note. I'm hearing there will be a draw an eyebrow on Peter Thiel theme when using ggl search starting tomorrow... Was it necessary to add 'gay'
Source: Forbes - 🏆 394. / 53 Read more »