David Marcus, CEO of Facebook’s blockchain subsidiary Calibra, has written a reply to last week’s letter from the U.S. House of Representative’s Financial Services Committee, according to
The Hill. Penned by Representatives including Maxine Waters, the
letter requested for a complete stop of Facebook’s cryptocurrency activities.
Waters et al. voiced concerns that the purpose of the cryptocurrency Libra was unclear, and that the governing Libra Association was “too big to fail”. With such controversies as Cambridge Analytica, the Representatives have concerns over Facebook’s involvement.
Marcus echoed his
blog post of 3rd July in his reply; that Facebook announced the Libra Association early, to leave time for feedback.
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