U.S. lawmakers challenge Facebook over Libra cryptocurrency plan

Facebook got a lashing by senate lawmakers from both sides of the aisle on Tuesday over plans for its cryptocurrency and from house lawmakers investigating big tech’s monopoly in the digital space......»»

Democratic and Republican lawmakers said on Tuesday that Facebook Inc's track record of what they described as untrustworthiness should stand in the way of it launching a digital currency, labeling the plan "delusional" and "crazy" at a Senate hearing......»»

Bitcoin tumbled back below $10,000 and dragged the rest of the crypto space lower after U.S. lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies. Bitcoin.....»»

U.S. lawmakers will question Facebook executives about their plans for the cryptocurrency in two hearings this week......»»

Facebook Inc is "delusional" to believe people will trust it with their money, a U.S. senator said on Tuesday as lawmakers from both sides of the aisle questioned the social media company on its plans for a digital currency at a hearing on Tuesday......»»

U.S. lawmakers from both sides of the aisle are set to grill Facebook Inc on its cryptocurrency plans on Tuesday, as the project continues to draw intense scrutiny from financial .....»»

Facebook Inc's top official overseeing the launch of its Libra cryptocurrency plans to tell U.S. lawmakers the company will not launch the digital currency until regulatory concerns and approvals are fully addressed......»»

China should revamp its plan for a national digital currency in the face of Facebook's Libra cryptocurrency, says the central bank's former head......»»

U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook's plan to build a digital currency called Libra "cannot go forward" until serious concerns were addressed. Rough Cut (no reporter narration)......»»

Facebook's David Marcus told lawmakers its new libra cryptocurrency will not store or share personal financial information – with a few caveats......»»

Facebook's David Marcus told lawmakers its new libra cryptocurrency will not store or share personal financial information – with a few caveats......»»

‘These vulnerabilities could be exploited and obscured by bad actors’.....»»

U.S. lawmakers questioned FinCEN director Kenneth Blanco about potential terrorist use of Facebook's libra cryptocurrency......»»

A senior member of the Swiss National Bank said he was open-minded about Facebook's cryptocurrency project, while an Italian official looked for more information as central bankers try to get to grips with the initiative......»»

Lawmakers have struggled to get up to speed on much more basic tech problems......»»

Rep. Maxine Waters requested Tuesday that Facebook halt the development of its new cryptocurrency Libra until it undergoes congressional and regulatory review......»»

Facebook unveiled an ambitious plan to create a n.....»»

The new digital currency will roll out first on Messenger and WhatsApp. Facebook revealed its long-awaited cry.....»»

Facebook, Inc. (NASDAQ: FB)'s proposed cryptocurrency Libra is revamping its platform to make it more acceptable to financial regulators.  read more.....»»

Facebook's Libra cryptocurrency could now launch in mid-November after a revamp aimed at mollifying its many critics. Julian Satterthwaite reports......»»