RATE Group | Congress Questions The SEC On Libra, Cryptocurrency And “The Whole Blockchain Phenomenon…
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Congress Questions The SEC On Libra, Cryptocurrency And “The Whole Blockchain Phenomenon…

29 Sep Congress Questions The SEC On Libra, Cryptocurrency And “The Whole Blockchain Phenomenon…

Posted at 16:57h in Cryptocurrency News by

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The House Financial Services Committee (HFSC) held a hearing on Tuesday, September 24, 2019 titled “Oversight of the Securities And Exchange Commission: Wall Street’s Cop On The Beat”. For the SEC, this was a chance for all five Commissioners to publicly meet together and sit as witnesses before the Committee in the House of Representatives. For Democrats, this was an opportunity to discuss Facebook’s Libra and how the SEC might also be “Big Tech’s Cop On The Beat” with respect to Libra and cryptocurrencies.

Chairwoman Maxine Waters (D-CA) has been unrelenting in her concern of Facebook’s new Libra project and today’s hearing was no exception. The following timeline indicate her rigor and focus on Big Tech’s move into cryptocurrency:

  • July 2 – Committee Democrats send a letter was sent to Facebook asking them to halt production of Libra
  • July 17 – Full Committee holds a hearing with David Marcus, head of Facebook’s Libra
  • August 25 – Committee Democrats travels to…

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