Facebook's Libra cryptocurrency attacked at Senate hearing | 2019-07-17

Facebook's Libra cryptocurrency attacked at Senate hearing

BBC

17th July, 2019 12:34:59 printer

Facebook's Libra cryptocurrency attacked at Senate hearing

 

Facebook's plan for a cryptocurrency has come under further attack at a US hearing, with politicians calling the company "delusional" and not trusted.

The Senate Banking Committee is quizzing Facebook executive David Marcus over the tech giant's intention to launch its Libra digital currency.

The company had showed "through scandal after scandal that it doesn't deserve our trust", said senator Sherrod Brown.

Facebook was told to clean up its house before launching a new business model.

The company announced last month plans to launch a digital currency, possibly next year, but first needs to get Washington lawmakers on its side.


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