US Lawmakers Forcing Facebook To Stop Launching Facebook Libra
A US lawmaker said that Facebook should postpone the launch of the Libra cryptocurrency – hours after the social network officially announced the project.
Libra, which will be launched next year, will allow people to pay through Facebook apps and WhatsApp.
But according to the chairman of the House Financial Services Committee, the company should wait until the US Congress to consider the project.
Facebook expressed its expectation to respond to questions from policy makers.
Democratic Party Congresswoman Maxin Waters said: “Considering the company’s past difficulties, I asked Facebook to agree to suspend any action on the development of cryptocurrencies until Congress and regulators have the opportunity to review these issues and take action.”
She cited the company’s history of disputes involving user data and called on Facebook executives to testify before her committee.