Hours after Facebook announced its plans for a global cryptocurrency project, a top House Democrat is calling for Facebook to halt its plans until Congress and regulators have had a chance to investigate potential risks.
“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users,” House Financial Services Committee Chairwoman Maxine Waters (D-CA) said in a statement. “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action.”
Waters’s comments came shortly after…
from The Verge – All Posts http://bit.ly/2ISLVAS
via IFTTT