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Rep. Waters says Congress will continue its review of Facebook's weight



Chairman of the US House Financial Services Committee has stated that the agency will continue to investigate Facebook's cryptocurrency, Libra.

Congresswoman Maxine Waters (D-CA) issued a statement on August 23 that provided a planned plan for fall 2019. Included in the list is a promise to continue with a review of Libra as well as the wallet software developed by Calibra, a Facebook subsidiary.

Waters has long called for more regulatory scrutiny of the Menlo Park-based social media giant's leap into the digital asset space.

In June, Waters requested a moratorium and a congressional investigation into the project, just two days after the Libra Association – a consortium of 28 corporate, nonprofit and regulatory agencies overseeing Libra's development and release ̵

1; made its announcement.

In July, she and ranking congressmen continued this inquiry line which included a public barbecue by Facebook's lib project manager David Marcus.

She asked:

"Will you stop dancing around this issue and commit yourself here in this committee … to a moratorium until Congress adopts an appropriate legal framework to ensure that Libra and Calibra do what you claim they will

For his part, Secretary Steve Mnuchin said in the wake of Vågen was launched that the project raises significant concerns about monetary policy and international finance, addressing concerns about potential terrorist financing, money laundering and human and drug trafficking. a national security issue.

Marcus said that Libra will fulfill all necessary governmental qualifications for the countries it intends to operate in.

Congresswoman Maxine Waters (D-CA) of AfDB Group / Flickr


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