Sign up with GoogleJamie McKane
MyBroadband Journalist
- Joined
- Mar 2, 2016
- Messages
- 7,000
- Reaction score
- 1,006
Facebook defends its cryptocurrency from regulators
Facebook Inc., facing fury from skeptical lawmakers, sought to mitigate concerns that have been raised about its proposed cryptocurrency, stating that the token’s purpose is to create a secure and low-cost way for consumers to move money around the world.
“We understand that big ideas take time, that policy makers and others are raising questions, and that we can’t do this alone,” Facebook’s David Marcus wrote in the letter dated July 8.
[Bloomberg]
Facebook Inc., facing fury from skeptical lawmakers, sought to mitigate concerns that have been raised about its proposed cryptocurrency, stating that the token’s purpose is to create a secure and low-cost way for consumers to move money around the world.
“We understand that big ideas take time, that policy makers and others are raising questions, and that we can’t do this alone,” Facebook’s David Marcus wrote in the letter dated July 8.
[Bloomberg]