Sen. Sherrod Brown, D-Ohio, called Facebook and its business model “dangerous” Sen. Mike Crapo, R-Idaho, said Facebook’s Libra cryptocurrency could help the 1.7 billion people around the world who don’t have access to a bank but can access the internet from a smartphone. Facebook executive David Marcus is overseeing Facebook’s cryptocurrency plans under a new subsidiary called Calibra. Facebook plans to create the Libra Association, based in Geneva, to oversee and regulate the cryptocurrency.”]
Source: https://www.govinfosecurity.com/senators-scrutinize-facebooks-cryptocurrency-plans-a-12786