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Dat nigger doesn't know what cryptocurrency is.
Rep. Waters: US Can’t Let Facebook’s Crypto ‘Compete With the Dollar’
The main reason for decentralized crypto-currency in the first place was to keep govt and establishment banks out of your wealth. Does this dumb nigger get this? Furthermore: anything Facebook conjures will never be a pure crypto-currency.
..."We just can’t allow them to go to Switzerland with all of its associates and begin to compete with the dollar.”The chair of the U.S. House Financial Services Committee is doubling down on her calls for Facebook to pause development on its new blockchain, Libra.
Two days after calling for a hearing, Rep. Maxine Waters (D-Calif.) appeared on CNBC Thursday afternoon calling for a “moratorium” on Libra development.
“It’s very important for them to stop right now what they’re doing so that we can get a handle on this,” Waters said of the social media giant. “We’ve got to protect our consumers. We just can’t allow them to go to Switzerland with all of its associates and begin to compete with the dollar.”
CNBC’s Waters interview made it clear her concerns are more with Facebook than with the company’s announced cryptocurrency project. Waters highlighted an ongoing investigation by the Federal Trade Commission into potential privacy violations concerning consumer data. She also mentioned a Department of Housing and Urban Development lawsuit that accuses Facebook of violating fair housing laws.
LOL People used to "hide" money in Switzerland. Not compete with the ol' dollar.
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