Today David Marcus one of the co-founders of Facebook’s Libra is being questioned by Congress about Facebook’s plans for Libra. Maxine Waters will chair the meeting and she is a known sceptic of Facebook’s Libra. in her opening statement she commented: I am conerned worried about Facebook’s data breaches. The senate are proposing a draft bill “Keep big corporations out of finance act” Maxine Waters says she is “concerned about Libra” and believes they plan to overthrow the dollar. US Congressman McHenry Calls Bitcoin ‘An Unstoppable Force’ Mr Marcus said in his opening statement: We (Libra) will take the time to get this right We will work with regulators around the world We will not offer Libra until we get full approval Libra is about a safe, secure and low-cost way to send money about the world. Libra are looking to meet if not exceed safeguarding for money laundering and terrorist financing. Libra and Calibra will not share personal data with face unless it is nessacery for safeguarding or lawful reasons. “‹”‹”‹”‹”‹Mr Marcus is explaining that Libra will only be a payment tool and not a financial asset like an ETF. It seems from the opening comments that Libra payment system but users will be able to save money in wallets and Libra will be a competitor with Alipay and WeChat etc. The data for Libra will be separate from Facebook’s social data. Marcus was asked why Libra are using Switzerland and why they are using a basket of currencies and not just the dollar. Marcus responded by saying they want Libra to be the currency of the world so that would be the answer for both. He was asked by a New York Senator Mrs Maloney if Libra would have a small pilot scheme and Marcus refused to commit to that. She then followed on to say she doesn’t think Libra should launch a currency at all as it is a function of governments. Please look out for more comments and articles as the event is live. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY drops below 108 after disappointing US PMI data FX Street 3 years Today David Marcus one of the co-founders of Facebook's Libra is being questioned by Congress about Facebook's plans for Libra. Maxine Waters will chair the meeting and she is a known sceptic of Facebook's Libra. in her opening statement she commented: I am conerned worried about Facebook's data breaches. The senate are proposing a draft bill "Keep big corporations out of finance act" Maxine Waters says she is "concerned about Libra" and believes they plan to overthrow the dollar. US Congressman McHenry Calls Bitcoin 'An Unstoppable Force' Mr Marcus said in his opening statement: We (Libra) will take the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.