July 16, 2019

2019-07-16T17:40:45-04:00

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During testimony before the Senate Banking Committee, Facebook’s David Marcus pledged to work with lawmakers to address concerns over the company’s new proposed digital currency, Libra. Mr. Marcus, a co-creator of Libra, took questions from lawmakers regarding a variety of concerns, including the possibility of money laundering schemes, scams, terrorism financing and international sanctions violations. Mr. Marcus argued the lawmakers' concerns were why the U.S. needs to lead in this emerging market. Senator Tom Cotton (R-AR) raised concerns over countries like Iran developing its own cryptocurrency to avoid sanctions compliance by not using the U.S. dollar.

During testimony before the Senate Banking Committee, Facebook’s David Marcus pledged to work with lawmakers to address concerns over the… read more