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US Senate Mulls Regulatory Implications of Facebook’s Mysterious Crypto Project



Recently, a buzz of excitement spread throughout the cryptocurrency community after news broke regarding social media giant Facebook’s foray into the crypto industry through a new project that may introduce the benefits of digital currencies to billions of the platform’s users.

Although this was certainly a bullish sign that many analysts viewed as the epitome of mainstream adoption for the nascent technology, the US Senate is now getting involved in the project, recently sending an open letter to the company demanding that they reveal significantly more information about the project, which currently remains somewhat mysterious.

Facebook Must Answer Several Questions Regarding Crypto Project

In a recent letter from the United States Senate Committee on Banking, Housing, and Urban Affairs, the committee demanded that the tech giant elucidate details about the project, specifically with regards to how the project may impact the digital privacy of users.

The letter, which is…





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2019-05-11 00:00:06

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