U.S. Regulators Want to Hear from Facebook Before Crypto Work Continues

There was a lot of fanfare and buzz surrounding Facebook’s Libra white paper but U.S. lawmakers were showing skepticism towards the social media giant; “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,” Congresswoman Maxim Waters said according to American banker; members of both parties said Facebook should come before congress to answer questions about the scope and scale of Libra; data privacy issues has also raised alarms as the company has been embroiled in a number os scandals over the last few years. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.