While China and the European Union rush forward on creating a digital currency, the U.S. doesn’t see the need for one in at least the next five years, said Treasury Secretary Steven Mnuchin.
Members of Congress love to drag the CEOs of large companies into hearings to show off in front of their constituents. The best recent example is the grilling of Facebook's Mark Zuckerberg over the company's Libra cryptocurrency project. Now, this over-the-top political production is threatening to spoil a good opportunity to provide the regulatory clarity so desperately needed by the cryptocurrency industry...
Mark Zuckerberg is a proud American. And Facebook, despite being used by 2.7 billion people around the globe, is first and foremost an American company with American values.
Facebook’s David Marcus got a warmer reception from the House yesterday than he did in the Senate on Tuesday. Not that it was friendly, but the questions focused more on the power Facebook would gain from its Libra cryptocurrency, and getting Marcus to commit to working at the pace of Washington, D.C., not Silicon Valley.