https://wccftech.com/facebooks-libra-plans-get-cold-reception-at-senate-hearing/

The comment ‘Facebook (NASDAQ:FB) is dangerous’ set the tone for the social networking giant’s first hearing before the US Senate about its Libra cryptocurrency efforts.

Facebook’s head of Calibra — the name of Facebook’s cryptocurrency corporate subsidiary and its wallet — David Marcus was grilled by the Senate Banking Committee on Wednesday afternoon in a session called “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations”. Facebook says that its planned Libra currency and Calibra wallet will lower the cost of international money transfers and help bring more than a billion people without bank accounts onto the global financial system.