Hours after Facebook announced its plans for a global cryptocurrency project, a top House Democrat is calling for Facebook to halt its plans until Congress and regulators have had a chance to investigate potential risks.
“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users,” House Financial Services Committee Chairwoman Maxine Waters (D-CA) said in a statement. “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.”
Waters’s comments came shortly after…
Top Democrat calls for Facebook to halt cryptocurrency plans until Congress investigates
Source: New feed
