Facebook's crypto chief David Marcus faced skepticism Wednesday from lawmakers at a House Financial Services Committee hearing on the company's plans for the digital currency Libra. "The most innovative thing that's happened this century is when Osama bin Laden came up with the innovative idea of flying two airplanes into towers. That's the most consequential innovation, although this may do more to endanger America than even that." Sherman called for Facebook CEO Mark Zuckerberg to face congress and said the executive, "needs to be an advocate for privacy and so he is creating a device which will provide privacy to drug dealers, human traffickers, terrorists, tax evaders and sanctions evaders." Velasquez, Chairwoman Maxine Waters, D-Calif., and Rep. Carolyn Maloney, D-N.Y., asked Marcus if he would commit to refraining from moving forward with Libra until policymakers put appropriate regulations in place.
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Aug 24, 2019