If Facebook issues its Libra token, she added, the company will “wield immense power that could disrupt” governments and central banks. While saying he was appropriately skeptical of Facebook’s proposal, McHenry urged lawmakers to move beyond making the company a political whipping boy. “Facebook’s entry in this new world is just confirmation.”It hasn’t been an easy few weeks for Facebook and its cryptocurrency project. The digital money operations are being headquartered in Switzerland. AdvertisementRepublicans on the panel generally argued that it was premature for Congress or regulatory agencies to clamp down on Libra.

Source: Los Angeles Times July 17, 2019 19:55 UTC