FAST FIVE: Maxine Waters Demands Facebook Stop All Development Of Libra Crypto Project
Just hours after the announcement, and release of a white paper, of its new cyrpocurrency, called Libra, the US government has decided its time to intervene – likely for the good of us all.
Patrick McHenry, senior Republican on the House Financial Services Committee, wrote a letter Tuesday to committee Chair Maxine Waters, a Democrat, demanding a hearing on the Facebook cryptocurrency initiative, according to Reuters.
Waters and McHenry were not alone as Facebook's announcement was met with immediate backlash from regulators across the globe.
They would not specify which regulators.
We suspect it will be a little while until Zuck's brave new world is unleashed.