Facebook like ‘a toddler that plays with matches’ with libra
US Republican and Democratic senators question Facebook’s digital currency initiative in view of the ‘havoc’ Facebook’s created in other industries
16 July 2019 - 18:00
Washington — Republican and Democratic senators sharply questioned Facebook’s plan to create its own digital money, adding to a chorus of scepticism across Washington and underscoring the challenges the company faces in getting its crypto-currency off the ground.
Senator Sherrod Brown, the top Democrat on the Senate banking committee, compared Facebook to a toddler that plays with matches. Speaking at a Tuesday hearing examining Facebook’s proposed digital token, Brown said he was worried about the company moving into the space considering the “havoc” it has already wreaked on other industries...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.