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WorldPosted at: Jun 19 2019 9:53AM


Facebook’s new cryptocurrency project may face consequences: report

California, June 19 (UNI) Social media giant Facebook has released the white paper for its long awaited cryptocurrency and blockchain-based financial infrastructure project on June 18, which is already raising questions among the US lawmakers.
Maxine Waters, who chairs the House Financial Services Committee, on Tuesday called on Facebook to pause its development of a new digital coin called Libra, citing the company's seemingly endless list of scandals, reported Cnet.
"With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users," Waters said in a statement.
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