Libra Challenging the Status QuoHe went on to say that he was open to ideas that both conform to existing regulatory standards and challenge them:
“I’m especially open to ideas if they conform with our existing regulatory regime here in the United States. I’m open to innovations that mean that we have to correct our regulation.”During yesterday’s hearing, McHenry reportedly called the intense scrutiny Libra has encountered so far a “trial on American innovation.” He later told reporters that he didn’t think it was the place of Congress to be “granting charters or revoking charters” for private enterprises.
Congressional NaysayersHowever, not all of those involved in yesterday’s hearing were as receptive to the idea of Libra. Rep. Maxine Waters (D-CA) reportedly said in an interview that she remained unconvinced after hearing Zuckerberg’s testimony, and still had skepticism regarding the firm’s financial ambitions. Meanwhile, Rep. Brad Sherman (D-CA30) gave Facebook CEO Mark Zuckerberg a serious dressing down:
“Let’s be clear. You are going to make powerful burglary tools and let your business partners commit the burglary. You are going to, with all the power of Facebook, try to create a new currency. You call it Libra, but you are the person behind it, and that’s why I call it ‘Zuck Buck.’”Calling Zuckerberg “the richest man in the world,” he went on to question him on whether his claims that Libra is intended to benefit the poorest in society are genuine:
Ultimately, Rep. McHenry told interviewers that he didn’t think the hearing changed many opinions among the lawmakers present. Do you think Libra will launch by next summer — or at all? Comment with your thoughts down below.
Haha this is gold 😂😂😂😂— Elja𝕭oom💥 (@Eljaboom) October 24, 2019
Those ppl are not even trying to understand What mark is offering them.
Brad Sherman literally leaves Mark Zuckerberg Speechless 😶 pic.twitter.com/mupXN7yvYQ
Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.