The Long Strange Journey of Facebook's Libra Project
The Breakdown
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Facebook's Virtual Currency Will Not Be Reliable or Reliable Anymore
The first day of hearings was at the senate in committee on the sixteenth, and the second was in the house with the house financial services committee. The big issue wasn't crypto currencies or stable coins; it was facebook. Republicans were hot on dep platforming issues, accusing facebook of banning or minimizing conservative voices. Democrats had diversity issues, data privacy issues, and there was definitely lingering blame around the election that they saw as being robbed from hilary clinton by russian bots on facebook. There were also those who just truly hated crypto currencies, getting loud on thinking, for example, this is a godsend to drug dealers and taxivators.
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