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Tuesday 20th March 2018

US Lawmaker Urges Facebook to Halt Cryptocurrency

Politics

7Dnews London

Wed, 19 Jun 2019 02:43 GMT

Chairwoman of the US House Financial Committee, Maxine Waters, said Facebook should stop the development of its new cryptocurrency until Congress can discuss the new step, reported Reuters. 

In a statement on Tuesday, June 18th, Waters said Facebook executives should testify before Congress about the product, dubbed Libra, saying the company has "repeatedly shown a disregard for the protection and careful use of this data." 

"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," she said. 


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