Topic: [2019-06-19] Senate Schedules July Hearing on Facebook’s Libra Crypto (Read 159 times)

hey , everyone. recently i have found an interesting thread regarding this discussion. You can check it following the link.

ofc, facebook intends to capture some part of the cryptocurreny market in order to give all people acess to basic financial services.
btw,regards to this thread.i've found related article so u can read & figure out more.
here's a link.
https://finance.yahoo.com/news/facebook-inc-fb-wants-more-220415665.html

Why will Facebook and Zuckerberg be facing another senate committee again? We all know that this senators are not technologically inclined and they just got owned by Zuckerberg during their last senate hearing with him. It would be better if they just let the SEC handle all the talking instead of them making a fool out of themselves again, if not Zukerberg would just eat them alive again. 

https://www.coindesk.com/senate-banking-committee-schedules-july-hearing-on-facebooks-libra-crypto?hootPostID=25d03d46c4e29e50ad6c460c1f252edc

The U.S. Senate Committee on on Banking, Housing, and Urban Affairs will hold a hearing on July 16 regarding Facebook’s new cryptocurrency, Libra.

The hearing, “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations,” comes in the wake of calls from members of Congress to more closely examine Libra and its potential risks. There have even been calls to halt work on the project until hearings are held.

In light of those comments, a Facebook representative said that “we look forward to responding to lawmakers’ questions as this process moves forward.”

The July 16 meeting will be held at 10 a.m. EST, and as of yet, no information about witnesses has been released. The hearing will be broadcast to the public.

It was the Banking Committee that wrote an open letter to Facebook last month seeking answers about its work on Libra, including how it works and to what extent the social media giant has sought input from regulators and market watchdogs.

As of this week, Facebook hadn’t directly responded to that letter, with a representative telling CoinDesk that “we received the letter and are addressing the senators’ questions.”

After today’s hearing news broke, committee member and 2020 presidential candidate Sen. Elizabeth Warren tweeted that “Facebook has too much power and a terrible track record when it comes to protecting our private information. We need to hold them accountable—not give them the chance to access even more user data. #BreakUpBigTech.”


US government says 'not so fast Zuck'