The U.S. government is still trying to wrap their heads around Facebook's Libra coin, since it was announced a couple of weeks ago:
"It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and intended to rival U.S. monetary policy and the dollar."
Eric Vorhees tweeted a link to this letter yesterday, in which the U.S. government requests Facebook to cease all activities on Libra until they had a chance to, well, come to terms with it...
"Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail."
We will need a lot of popcorn to watch things unfold over the next few years...
Buckle up, indeed!
they clearly seem to have no clue as to what is going on... it would be funny if it wasnt so sad
...es cierto
The impact of Libra was seen just at the time when it was even announced. The prices of bitcoin along with other altcoins rose.
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