Facebook’s global coin has finally seen the world, however, not everyone is happy about that, especially banking regulators and government of some countries. The US Senate decided to hold a hearing on Libra.
It is not a secret that the US government opposes creating and developing Facebook’s crypto coin that is why the U.S. Senate Committee on Banking, Housing, and Urban Affairs wants to examine it thoroughly whether the coin is suitable for the country and its banking system or not.
The Committee even proposed to halt the project until they make a decision on it. The hearing is scheduled on 16th July at 10 a.m. EST, it will be public, but there have not been any details of witnesses yet.
The Banking Committee has already sent a request on Libra’s details to Facebook headquarters, but the tech giant has not replied.
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