US lawmakers asked Facebook …

US lawmakers asked Facebook …

US Lawmakers Ask Facebook To Temporarily Suspend Development Of Cryptocurrency

Rep. Patrick McHenry, US House of Representatives, on Tuesday sent a letter to the chairman of the Financial Services Committee calling for a hearing on Facebook’s new cryptocurrency initiative, Reuters writes..

“We know that there are many unanswered questions about the size of the project and its place in the global financial regulatory system,” he wrote. “As legislators, we need to sort out the Libra project. We must go beyond rumors and speculation and provide a platform for evaluating the project and its potentially unprecedented impact on the global financial system. “.

A spokesman for the politician said that he is ready to communicate directly with Facebook to get answers to his questions..

According to Reuters, the project has also been criticized by a number of US lawmakers, including Senator Sherrod Brown, who called for tight regulatory control over Libra due to data security risks..

Facebook’s cryptocurrency arm, Libra, has been registered with the American Financial Crimes Network (FinCEN) as a money transfer service provider, The Block reports..

US lawmakers asked Facebook ...

Some participants in the cryptocurrency industry, against the background of recent events, already express doubts that the Facebook project will even reach the operational stage..

On Tuesday, several European politicians called for control over Libra, and Anatoly Aksakov, chairman of the State Duma committee on the financial market, suggested that the instrument would be banned in Russia..

UPD: The head of the Financial Services Committee asked Facebook to suspend the development of the project until it is evaluated by Congress and regulators.

US lawmakers asked Facebook ...
US lawmakers asked Facebook ...

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