US continues criticism of Libra

Bradley Prior

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US continues criticism of Libra

Facebook Inc.’s plan for its own digital currency is drawing yet another round of fire in Washington, this time in the form of a letter from more than 30 groups influential with Democrats demanding a halt to the project to deal with the “profound questions” it raises.

In their letter to leaders of five congressional committees, organizations including the Service Employees International Union, the Consumer Federation of America and Public Citizen argued that regulators aren’t prepared to address issues surrounding the Libra project and that the social-networking giant needs to present a fuller picture of its plans. [Bloomberg]
 
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