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House Democrats issue letter to Facebook to halt Libra project (cryptocurrency)
zdnet ^ | 7/03/19 | Campbell Kwan

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 ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: cryptocurrency; democrats; facebook; internet; libra; maxinewalters; maxinewaters
Regulate = scoring a slice of that pie?
1 posted on 07/07/2019 2:37:35 PM PDT by Libloather
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To: Libloather

“Issue letter”

Weird turn of phrase.


2 posted on 07/07/2019 2:39:38 PM PDT by BenLurkin (The above is not a statement of fact. It is either opinion or satire. Or both.)
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To: Libloather

It’s called ‘shaking down’ someone to see what they will drop out of their pockets into your donation bucket.


3 posted on 07/07/2019 2:42:38 PM PDT by NormsRevenge (Semper Fi - Monthly Donors Rock!!!)
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To: Libloather

Who is Maxine Walters? Is that a type-o?


4 posted on 07/07/2019 2:43:55 PM PDT by Spok
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To: Libloather

Waxine Walters???? The only prerequisites to be a journalist are ignorance and leftist.


5 posted on 07/07/2019 2:44:11 PM PDT by ConservaTexan (February 6, 1911/June 14, 1946)
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To: Libloather

Private company.....remember, Democrats?


6 posted on 07/07/2019 2:51:05 PM PDT by VanDeKoik
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To: Libloather
If the government "can't" issue its own non-metal currency outside the purview of the [elite's] privately-owned Federal Reserve, then why should anyone else be able to issue said currency? I mean, come on!

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?

7 posted on 07/07/2019 2:52:41 PM PDT by Scooter100
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To: Libloather
"Five Democrats, led by Congresswoman and chair of the House Financial Services Committee Maxine Walters.

WoW... You talk about a Chinese fire drill..

8 posted on 07/07/2019 2:53:38 PM PDT by unread (Joe McCarthy was right.......)
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To: Libloather

“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


9 posted on 07/07/2019 2:54:13 PM PDT by Steven Tyler
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To: Libloather

Some adult told them what a “reserve currency” is...


10 posted on 07/07/2019 2:59:54 PM PDT by kiryandil (The Media & the DNC tells you who you're gonna vote for. We chose Trump.)
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To: Libloather

“How are you gonna allow us to tax this?”


11 posted on 07/07/2019 3:02:44 PM PDT by dynachrome (Build the wall, deport them all.)
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To: Libloather

Maxie was confused...she thought the currency was only issued in September so she wants a delay.


12 posted on 07/07/2019 3:07:50 PM PDT by CincyRichieRich (Vote for President Trump in 2020 or end up equally miserable, no rights, and eating zoo animals)
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To: ConservaTexan

“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


13 posted on 07/07/2019 3:08:51 PM PDT by dsrtsage (For Leftists, World History starts every day at breakfast)
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To: ConservaTexan

I’d guess that it is Barbara’s sister...


14 posted on 07/07/2019 3:16:29 PM PDT by Paladin2
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To: Libloather

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???


15 posted on 07/07/2019 3:32:21 PM PDT by DUMBGRUNT ("The enemy has overrun us. We are blowing up everything. Vive la France!"Dien Bien Phu last message.)
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To: a fool in paradise; acapesket; Baynative; beef; BullDog108; Califreak; cgbg; Concentrate; ...

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.

16 posted on 07/07/2019 3:37:25 PM PDT by upchuck (No muzzy is fit to hold public office - their cult (religion) is incompatible with the Constitution.)
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