This is the Facebook Is Evil ping list.
If you'd like to be on or off this list, please click Private Reply below and drop me a FReepmail.
Posted on 07/07/2019 2:37:35 PM PDT by Libloather
Five Democrats, led by Congresswoman and chair of the House Financial Services Committee Maxine Walters, have issued a letter to Facebook requesting that it pause the development of its Libra cryptocurrency project.
The letter argued that regulators need to examine the privacy, trading, national security, and monetary policy concerns of Libra products as they "may lend themselves to an entirely new global financial system that is based out of Switzerland and intended to rival US monetary policy and the dollar".
It also argued that Facebook has not provided much information about its plans surrounding the project.
"If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger US and global financial stability," the letter said.
"These vulnerabilities could be exploited and obscured by bad actors, as other cryptocurrencies, exchanges, and wallets have been in the past. Indeed, regulators around the globe have already expressed similar concerns, illustrating the need for robust oversight."
(Excerpt) Read more at zdnet.com ...
“Issue letter”
Weird turn of phrase.
It’s called ‘shaking down’ someone to see what they will drop out of their pockets into your donation bucket.
Who is Maxine Walters? Is that a type-o?
Waxine Walters???? The only prerequisites to be a journalist are ignorance and leftist.
Private company.....remember, Democrats?
Fortunately, this will all be bubbling over very soon...with Trump, the GOLDen-haired boy, at the helm. If I were to mention the benefits of "physical assets" as a sort of financial Rorschach Test, what immediately comes to mind wrt your current situation?
WoW... You talk about a Chinese fire drill..
“If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger US and global financial stability,” the letter said.
....and we cannot tax those transactions
Some adult told them what a “reserve currency” is...
“How are you gonna allow us to tax this?”
Maxie was confused...she thought the currency was only issued in September so she wants a delay.
“Waxine Walters???? The only prerequisites to be a journalist are ignorance and leftist.”
The internet is totally going to run out of space if people keep placing unnecessarily redundant words in the same sentence
I’d guess that it is Barbara’s sister...
Facebook’s Libra is a product in development, it does not exist. How do they attack this particular windmill?
Yes, I know it is used with free speech, but the phrase ‘prior restraint’, seems to fit???
This is the Facebook Is Evil ping list.
If you'd like to be on or off this list, please click Private Reply below and drop me a FReepmail.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.