The hearing came after senators questioned Facebook on Tuesday about similar matters. Multiple members asked how Facebook and the companies in the association, which include Uber, Lyft, MasterCard and Paypal, would profit from the currency. Congress defends the dollarThe Missouri representative Ann Wagner asked how Facebook would launch a global currency without undermining the power of the US dollar, or destabilizing the global economy. Facebook accused of censorshipSome lawmakers could not resist the opportunity to bring up conservatives’ longstanding claims of bias on the platforms. Others pressed Marcus on Facebook’s past privacy violations and wondered whether the company would bar hate groups from using the currency.

Source: The Guardian July 17, 2019 20:53 UTC