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Posted on 06/18/2019 4:55:45 PM PDT by 2ndDivisionVet
Democratic Rep. Maxine Waters, chair of the House Financial Services Committee, on Tuesday requested that Facebook pause its development of Libra, an upcoming cryptocurrency that the company plans to release in 2020.
“Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action,” Waters said in a statement on Tuesday.
Facebook and a consortium of partners on Tuesday unveiled Libra, its much-awaited blockchain project that the company has been working on over the past year. Libra is an open-source digital currency that people will be able to use to transfer money to peers or merchants over the internet. Facebook is also introducing a digital wallet, Calibra, for users to store and exchange the currency.
Rep. Patrick McHenry, the ranking Republican on the committee, had requested Waters to call the hearing earlier in the day. “While there is great promise for this new technology in fostering financial inclusion and faster payments, particularly in the developing world, we know there are many open questions as to the scope and scale of the project and how it will conform to our global financial regulatory framework,” he wrote. “We need to go beyond the rumors and speculations and provide a forum to assess this project and its potential unprecedented impact on the financial system.”
(Excerpt) Read more at cnbc.com ...
Libra ??? Max wants a name change to Virgo
Max was overheard to say ... Skip the bra ... give me a virgin to throw in the volcano
Until they tell her what her cut will be ,LOL
I am a Libra!
For the first time in my adult life,
I agree with Maxine Waters!
Maxine must be getting ready to exercise her stock options.
Agree w/ MadMax.
Facebook can’t do anything right.
Trust them with crypto currency?
No way
DITTO!
Until she and the CBC can find a way to capitalize from it.
In her case, it should be Cancer
How does this Facebook Scam work ?
Mad Max is shaking them down for a big fat campaign contribution (one of many to come).
Hide it under a bushel. If you’ve nothing bad to say about a leftist then say nothing at all.
Join the side you’re on.
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Could I ask why? Is your aversion towards Facebook or Cryptocurrency or both?
The more ways we can keep grubby communists like Mad Maxine from getting their greedy paws on other people’s money the better. Opposition from that collectivist moron is a good sign.
This is actually a great statement by Waters.
I doubt she “asks” for anything, rather she demands.
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