- The U.S. Congress is further pressing ahead for another hearing on Facebook’s cryptocurrency plans.
- Concerns are growing around the impact on consumers and also competing with the dollar.
Congress is largely calling for a second hearing on Facebook’s Libra cryptocurrency in July, as concerns further mount.
Maxine Waters, the chairwoman of the House Financial Services Committee did announce the panel will be holding a second hearing on Facebook’s intentions to develop a cryptocurrency based payment platform.
The chairman was quoted saying:
It’s very important for them to stop right now what they’re doing so that we can get a handle on this. We’ve got to protect our consumers. We just can’t allow them to go to Switzerland with all of its associates and begin to compete with the dollar.