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Facebook Services Crypto Project Restricted Services Services Request



Rep. Maxine Waters, chair of the United States Representative Service Representative Services Committee, calls for the suspension of Facebook in its cryptocurrency, Libra, as CNN Tech Reporter Brian Fung reported in a series of tweeted June 18.

In his statement, Rep Waters explained:

"Due to the disturbance of the previous company, I request that Facebook agrees with a moratorium on any movement forwarding to development a cryptocurrency until Congress and regulators have the opportunity to review these issues and act "

In response, Rep. Patrick McHenry, also the Service Services Committee, follows:

"It serves us as builders to understand the Libra Project. We need to approach rumors and speculations and provide a forum to assess the project this and its potentially nonsensical effect on its global financial system. "

The implications of these statements remain unclear, as their significance for Facebook and Project Libra.

This news came on the same day Facebook released white paper for its new crypto project, according to Cointelegraph's report.

Recently, Facebook is gathering investors in the "Libra Association" companies want to invest $ 1

0 million each in Project Libra.

Just last month, the Financial Services Committee passed a resolution to develop the Task Force on Financial Technology. The mission of the Task Force is to "examine the current legal framework for fintech, how fintech is used in lending and how consumers interact with fintech."


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