The Senate will hold a hearing next month on #facebook’s Libra currency


On Wednesday, the Senate Banking Committee announced it will be holding a hearing next month to question witnesses over Facebook’s new cryptocurrency initiative, Libra.

The hearing, entitled “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations,” is set for July 16th, but the committee has yet to nail down who will be testifying. The plans come shortly after Facebook formally announced its new cryptocurrency and blockchain ecosystem, Libra. Facebook’s plan was met with harsh criticism from lawmakers, as well as calls for investigation into the potential consumer risks.

Sen. Sherrod Brown (D-OH) is the top Democrat on the committee and was one of the first lawmakers to question Facebook’s new product. “Facebook…

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