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#1514
Lance Thompson
280 Posts

Here's the Congressional hearing with the House Financial Services Committee and a gentleman by the name of David Marcus regarding congressional concerns about Facebook's Libra cryptocurrency which has yet to be launched. The hearing was 5 days ago on Wednesday, July 17th. Moreso than anything the thing that you're gonna gather from listening to the questions asked of Mr. Marcus is that there seems like there's more of a backlash against Facebook and the lack of trust toward Facebook than there is a distrust of cryptocurrencies in general.

Now some of you will have the same view regarding cryptocurrencies that many other advocates for this new form of technology have which is "Hell, they keep talking about how cryptocurrencies can be used for money laundering, drug-trafficking, human trafficking and all other kinds of crimes. What currency is used more for criminal transactions around the world than the U.S. dollar??……..If they can't stop the U.S. dollar from being used in the commission of illicit and criminal behavior what makes them think that they're ever going to be able to come up with a way to completely stop ANY currency from being used in committing crimes??"…….And to that I would say that you've got a point…..you've got a point.

Be advised that this hearing lasted for 6 hours so be sure to watch it when you've got some time on your hands. Enjoy.