Today the US House of Representatives Committee on Financial Services wrote Facebook a letter telling them to stop all work on Libra, their new cryptocurrency that they announced last week.
CEO of Shapeshift Erik Voorhees reacts to the news and explains why Libra threatens Banks and the US Govt.
"We write to request that Facebook and its partners immediately agree to a moratorium on any movement forward on Libra … It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and
intended to rival U.S. monetary policy and the dollar."
For an explanation of Libra, see my video:
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