“Libra raises serious concerns regarding privacy, money laundering, consumer protection, financial stability,” Fed Chair Powell said in front of Congress.
in the project, which she called a continuation of its "unchecked expansion and extending its reach into the lives of its users."
"Ultimately, it is time to bring Mark Zuckerberg here," Sherman said. "He is the one that has made billions of dollars out of us, relies on the U.S. government to protect his billions and now wants to undermine the system." "We want, and need, governments, central banks, regulators, non-profits, and other stakeholders at the table and value all of the feedback we have received," Marcus said in a letter to Senate Banking Committee Chairman Mike Crapo and Sen. Sherrod Brown , the committee's ranking member.
"It's something that doesn't fit neatly or easily within our regulatory scheme," he said. "It does have a potentially systemic scale and for all the reasons we've discussed it needs a careful look."
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