Libra Coin Congress

Facebook has done their best to accommodate the concerns of lawmakers but it isnt yet clear as to whether they will be willing to put the development on pause to allow congress to investigate the viability of this kind of service. In the first quarter this year it brought in 1508 billion in revenue up 26 percent year over year.

Facebook Takes On The World Of Cryptocurrency With Libra Coin

I hope they remember what triggered the last round of facebook execs having to appear before congress and parliament.

Libra coin congress. Senate banking committee is set to inspect facebooks libra coin at a hearing set for july 16 in yet another sign that legislators are extremely cautious of the companys shift into. The real risk of facebooks libra coin is crooked developers. Maxine waters head of the house financial service committee stated that libra was part of an unacceptable all encompassing expansion for facebook.

A number of us congress members demanded a delay on the launch of libra for further investigations on the coins impact on value transfers and privacy. The us government has spoken on the release of the whitepaper on facebooks cryptocurrency and it does not sound like good news. Senate house lawmaker has asked for ceasing all developments on libra until a company executive testifies before the congress.

Congress members have quickly spoken up about the topic and the world of bitcoin has plenty to say too. The social network is a founding member of a consortium thats designing a global digital coin. Facebooks libra coin will drive faster and better crypto regulationread more.

Facebooks libra the new blockchain and payment system from the social media company is the big topic in the digital currency space right now and reactions are coming in from all corners. Despite the scandal that rocked the company in 2017 and the repeated testimonies made to congress facebook has continued to see its revenue grow. Facebooks cryptocurrency only got officially announced this week but it is already being targeted by authorities for an examination of risks to the global economy.

The doubts congress hold over facebooks libra coin are very valid in all fairness. But if facebook registers as a money service firm and attains all the needed licenses their actions would be in line with the legal system. The leader in blockchain news coindesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policiescoindesk is an independent operating.

Faq mobile everything you need to know about facebooks libra cryptocurrency.

Libra Could Be The Biggest Innovation Of A Generation Stuff Co Nz