A briefing for Congressional staff about the potential dangers and implications of the “Libra” cryptocurrency recently announced by Facebook and a consortium of corporate partners.
Sponsored by the Congressional Progressive Caucus and the office of Congressman Jesús "Chuy" García (IL-04).
David Segal, Executive Director, Demand Progress Education Fund
Heather Slavkin Corzo, Senior Fellow, Americans for Financial Reform
Rohan Grey, Founder and President, Modern Money Network
Porter McConnell, Campaign Director, Take on Wall Street
Matt Stoller, Fellow, Open Markets Institute
Facebook and partners recently announced plans to create the so-called “Libra” cryptocurrency. Panelists explore the ways in which this project would privatize functions that should be in the public domain, the dangers it poses for our economy and broader society, and the ways in which it could entrench the power of Facebook and its corporate partners. The discussion also addresses its implications for the regulatory and Congressional oversight landscapes as well as the ongoing public service failures that Facebook is exploiting in its pursuit of power.