- The United States lawmakers feel there is a need to understand Libra’s scope.
- Roubini accuses Hayes of not releasing the entire recording of the ‘Tangle in Taipei’ debate.
Facebook’s impending Libra cryptocurrency continues to stir discussions in various jurisdictions. The United States lawmakers feel there is a need to understand Libra’s scope before its development continues. Besides that, the French Minister of Economy already asked the G7 member countries to ask Facebook for some guarantees. Other central bank governors like the Federal Reserve Bank chair Jerome Powell said that its intentions are to protect the user from risks that will come with Libra.
Meanwhile, a group of five U.S Congress members in an open letter to Mark Zuckerberg and Sheryl Sandberg the founder of and the COO of Facebook respectively asking them to take a step back from the development of Libra and its associated wallet Calibra. According to the lawmakers:
“It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and intended to rival U.S. monetary policy and the dollar.”
Apart from the five lawmakers, the chair of the House Financial Services Committee, Rep. Maxine Waters (D-CA) had the same thoughts on Tuesday. This letter directed to the executives at Facebook comes two weeks before the scheduled hearing to be convened on July 16 and July 17 before the Senate and the House in that order.
In other news that are hitting the headlines, the much-awaited ‘Tangle in Taipei’ discussion between the CEO of BitMEX and the economist Nouriel Roubini that took place on Tuesday, July 2 during the second day of the Asia Blockchain Summit has resulted in heated disagreements between the two. Roubini accuses Hayes of not releasing the entire recording of the debate instead of choosing to censor it. He referred to Hayes as a coward who responded by saying:
“Don’t worry our tapes will exposure your thin grasp of economics and technology. After seeing these tapes, I would be surprised if you were allowed into any higher learning institution.”
Also Read: BitMEX forbids recording and streaming Tangle in Taipei; Roubini is furious
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