Post
Topic
Board Altcoin Discussion
Re: US senators wants to know why Facebook wants crypto
by
smyslov
on 14/05/2019, 07:50:50 UTC
The US Senate banking committee wrote a letter to facebook questioning about the nature and legality of it's cryptocurrency project code named Libra.
https://www.banking.senate.gov/imo/media/doc/5.9.19%20Facebook%20Letter.pdf

They essentially asked whether it would enable users to have privacy and would make it harder for the government to monitor every personal and financial moves of people in the US and around the world.

They are like that, they want their nose in almost all the business, and since Facebook is a huge company they want to know if they can still control Facebook with their laws and if they are still compliant with their existing laws, they want to monitor because if they cannot monitor they cannot tax them.