Lawmakers Say Facebook Can't Be Trusted to Develop Cryptocurrency

U.S. lawmakers bashed Facebook over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers’ data. The social media company is fighting to get Washington on its side after it shocked regulators and lawmakers with its announcement on June 18 that it was hoping to launch a new digital coin called Libra in 2020.

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