Facebook's Libra was on display in front of the banking committee of the United States Senate. David Marcus appeared to testify and calm concerns the committee has.
At issue is the Senators belief that Facebook could end up operating outside the regulatory framework which could foster illegal activity. Marcus said Facebook feels it should have oversight. He also mentioned how the wallet would only work on their apps and no exchanging with outside wallets. This could be a problem for entities such as Facebook.
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I also share the idea that if libra starts Facebook brings challenge to crypto industry
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