Quote
Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail."
Now this is a weird statement.
Libra won't be a threat to the US dollar because the libra price will be tied to the US dollar price(if the rumors are right about that).However,it's always good to have a constructive discussion about that topic.Zuckerberg will be obligated to reveal his true intentions about this new facebook currency.
The problem is, it is not tied to USD alone, but rather to different currency, depending on which is more stable. In short, the Libra value conversion will keep using different currency on which it chooses the most resistant to fluctuation.
I believe that the US government are fearing of Libra choosing other currency as it will weaken the purchasing power of dollar. Remember how one US representative wanted to ban cryptocurrency because it weakens the USD influence? I believe same theme is happening why US government is acting like this.