The US Senate Banking Committee plans to hold a hearing on Facebook's newly-announced Libra cryptocurrency project on July 16th, Reuters reports. On Tuesday, Senator Sherrod Brown , the ranking member of the committee, responded to the announcement of Libra with concern:"Facebook is already too big and too powerful." Facebook has ceded control of the coin to the Libra Association, a consortium of companies who will actually handle the work of managing the cryptocurrency.
The US Senate Banking Committee plans to hold a hearing on Facebook's newly-announced Libra cryptocurrency project on July 16th, Reuters reports. On Tuesday, Senator Sherrod Brown , the ranking member of the committee, responded to the announcement of Libra with concern:"Facebook is already too big and too powerful." Facebook has ceded control of the coin to the Libra Association, a consortium of companies who will actually handle the work of managing the cryptocurrency.
'already too big and powerful' That's rich coming from the U.S. federal government.
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