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How did Facebook not realize that regulators around the world would be unhappy about the launch of a new global currency controlled by a single entity? This is hilariously sloppy. https://t.co/NtCsB3lxFt
— nilay patel (@reckless) June 18, 2019
The ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs just released this statement on Facebook's Libra cryptocurrency. Libra is (rightfully) going to get a ton of scrutiny. (h/t @ashleyrgold) pic.twitter.com/HrOUGdYq45
— Alex Heath (@alexeheath) June 18, 2019
Shortly before she put out her statement, House Finance's RM Patrick McHenry (R) wrote her a letter calling for a hearing.
— Makena Kelly (@kellymakena) June 18, 2019
It's bipartisan, babyyyyyyyhttps://t.co/lm9xWjSv2v
And in case you didn't read the article all the way thru, a Facebook spokesperson responded by saying, "We look forward to responding to lawmakers’ questions as this process moves forward."
— Makena Kelly (@kellymakena) June 18, 2019
This is extremely sad, misguided and a massive overreach by @RepMaxineWaters. I'm totally stunned.
— Mike Dudas (@mdudas) June 18, 2019
The US government is forcing a US company to put a "moratorium" on development of a software technology product until the government can have hearings?https://t.co/RzWfUBjgIm
Libra, with Facebook's dominance, has the power to replace fiat currency
— Jane Manchun Wong (@wongmjane) June 18, 2019
With their commitments to push Libra across the world, governments across the world won't like it very much
It gives FB and other tech giants power to interfere a country's economyhttps://t.co/pCkbPnJaea
Facebook’s Libra currency draws instant response from regulators: G7 establishes group to examine risk to financial system. The swift wave of scrutiny from regulators and policymakers will be a blow to Facebook, which hoped for a regulatory light touch https://t.co/Jt9uNGjfZ3
— Robert Went (@went1955) June 19, 2019
NEW: Here's @RepMaxineWaters calling for Facebook to halt its crypto plans until Congress/regulators can assess the potential riskshttps://t.co/f9CbtvSif8
— Makena Kelly (@kellymakena) June 18, 2019
We’re at the ‘please just stop being private for-profit entities so we can catch up on what you’re actually doing’ stage of tech regulation https://t.co/m7FA4jF0UO
— Alex Heath (@alexeheath) June 18, 2019
Get your popcorn ready. Libra will serve us with endless entertainment as whipping boy of regulators who now think Bitcoin is the smaller of their problems. https://t.co/JWRpTiWY8g
— Tamas Blummer (@TamasBlummer) June 18, 2019
Read her entire statement here: pic.twitter.com/NlpdrQZ9RV
— Makena Kelly (@kellymakena) June 18, 2019
Best of luck best to both sides! pic.twitter.com/HOofQvc2UE
— Bitcoin Magazine (@BitcoinMagazine) June 18, 2019
NEW: The top lawmakers on the House Financial Services Committee are targeting Facebook’s new cryptocurrency, #Libra.
— Brian Fung (@b_fung) June 18, 2019
Chairwoman Maxine Waters says it’s another example of Facebook’s “unchecked expansion,” urges execs to testify and calls on FB to stop working on the currency. pic.twitter.com/xOklWsfLdx
The Elected Rise Against Facebook Coin https://t.co/Uu3ip1Li6v
— Real Time Crypto (@RealTimeCrypto) June 19, 2019