Facebook Developing Digital Currency

WASHINGTON (AP) — As questions surround Facebook’s plans to create a digital currency, Congress is opening two days of hearings on the heels of criticism from President Donald Trump. Federal officials have expressed concerns the digital currency Libra could be used for money laundering and terrorism financing. Facebook executive David Marcus says in testimony prepared for Tuesday that Libra “is about developing a safe, secure and low-cost way for people to move money efficiently around the world.”


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