Facebooks LIBRA “the next horrific terrorist attack against Americans.”

By Hippos4ever | HipposR4ever | 27 Jul 2019

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Well after going through the first round of questioning on the hill it seems Facebook's Libra project might not end up going through, or at least in the capacity that Facebook may have hoped for... 

Rep. Maxine Waters (D-CA) asked Facebook, and Facebook's David Marcus, lead of the Calibra wallet team (the wallet that is being designed to handle Libra transactions based within the messenger app), to halt work on the project further. Making the claim that further development could lead to something akin or worse than 9-11 in terms of finance, and said that it had potential to be...

“the next horrific terrorist attack against Americans.”

Wether or not that statement is more than conjecture and/or hyperbole just meant to prove a point, is honestly sort of hard to say, there ARE a lot of things that could and would go wrong should Libra fail to meet up to the strict expectations that have been set up by governments upon the financial institutions that operate within their boarders. So I think its fair that they are being met with such scrutiny, the banks had to go through all the regulatory rigmarole, even if we don't like banks as crypto enthusiasts for the most part, shouldn't we at least show we can do the same things they did, THEN improve on it? Even if the regulatory actions don't work or are all for show, its a show crypto must perform in before it can become accepted.

I can't personally say if Libra will keep trying to make headway to become accepted and allowed to operate within the bounds of the United States, but after the first 2 days of congressional hearing, I can say, it does not look good...


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