Crypto Community Reaction to Facebook Libra US Congressional Hearings


As countless eyes watched and followed the recent U.S. congressional hearings regarding Facebook-backed cryptocurrency Libra, it was evident that it will not be easy for the social media giant and the Libra Foundation to find a way of convincing the regulators of the merits their product could bring to the world.

David Marcus, head of Facebook’s Calibra wallet that is built on blockchain technology, who has long been a leader in the centralized digital currency space, testified before the Senate Committee on Banking as well as the House Financial Services Committee. When asked challenging questions about Facebook’s plans for its Libra digital currency, Marcus mostly assured the lawmakers that Facebook would not be moving ahead with Libra until all regulators were satisfied with the plan.
RiODNjNzFjMjhiNi5qcGc=.jpg

In spelling this out, Marcus actually highlighted the difference between the stalled, permissioned digital currency “innovation” that Facebook wants to do and the continuous development and growth of Bitcoin (BTC) over the last decade. The crypto community had met this notion and the hearing in general with mixed reactions.

for more details:

https://cointelegraph.com/news/crypto-community-reaction-to-facebook-libra-us-congressional-hearings


Comments 2


Source
Copying/Pasting full or partial texts without adding anything original is frowned upon by the community. Repeated copy/paste posts could be considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.

More information and tips on sharing content.

If you believe this comment is in error, please contact us in #disputes on Discord

01.08.2019 21:01
14