Facebook Faces Bipartisan Resistance to Cryptocurrency Plans

WASHINGTON—Government officials from both parties came out swinging against Facebook Inc.’s plans to launch its own cryptocurrency.

Treasury Secretary Steven Mnuchin on Monday said Facebook Inc. faces a high bar to persuade authorities that it can safely launch the digital money and guard against risks ranging from money laundering to terrorism financing. Rep. Maxine Waters , the chairwoman of a powerful House committee, separately drafted legislation that would block the social-media company’s plans to operate...

Source: Digital Coin News (digitalcoinnews.net)

If Libra is a concern, Bitcoin is far worse! Not sure why realdonaldtrump, SenToomey, SenBobCasey or SpeakerPelosi have not raised material public concerns about cryptocurrencies. It’s a fake commodity - it’s existence harms investors and fuels black market, illegal activity

And 60+ yrs old with no modern experience rule the world. Dumbasses

My farmers market has its own money...why isn't the federal government cracking down on that...

Libra is a digital currency...not so much of a cryptocurrency.

Hence the reason cryptocurrency networks MUST be decentralized in order to achieve their mission. A single, or even a conglomerate of entities, can be hindered by governments quite easily. Bitcoin... not to much.

the best thing about facebook is that no one has to use it 🤷🏻‍♂️

I don't see how they can legally do it without government approval

LIBOR SUCKS!

The only entity I trust less than the federal government is Facebook.

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