Facebook will defend its new cryptocurrency later this month
Marck Zucherberg accepted the invitation of the US House of Representatives to address senators' doubts
Last Wednesday the Committee of Financial Services of the House of Representatives indicated that the CEO of the social network, Marck Zucherberg will attend the Congress on October 23 to clarify some concerns generated by the senators regarding the digital currency promoted by the social network and its impact on the financial services sector.
The US House of Representatives had already conducted other hearings about Libra and Facebook’s aspirations to boost this currency in the crypto market, where David Marcus, director of Calibra, was also present and offered details on the benefits that the new cryptocurrency pays.
New bill
With regard to the participation of Zucherberg in the Chamber, the presentation of the draft for a new bill promoted by Maxine Waters, a legislator at the Congress, will also expose the refusal of large companies such as Facebook to receive authorization from providing financial services to the US.
The document states that: “The new bill also prohibits large service companies from establishing, maintaining or operating a digital asset intended to be widely used as a means of exchange, unit of account, store of value or perform any other similar function defined by the Federal Reserve”.
On the other hand, the regulatory problems and the lack of details regarding the approach of certain aspects have generated an irritable scenario for the members of the Association of Libra, in addition to being considered one of the reasons that justify PayPal’s official departure from said group some days ago.
K.Villarroel
Source: diariobitcoin
