Technology Facebook privately pitched its cryptocurrency plan last month to regulators. They were left even more scared. | Washington Post

Also see ‘I like bitcoin,’ says House GOP leader McCarthy while bashing Facebook’s Libra coin plans | CNBC

"“Facebook is dangerous,” Sen. Sherrod Brown (D-Ohio) said Tuesday at the first of two congressional hearings scheduled for this week. “They certainly don’t respect the power of the technologies they are playing with. Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over, and called every arson a learning experience.”

Facebook vice president David Marcus, who is spearheading the Libra project, tried to mollify lawmakers’ anxiety about the currency, saying the company wouldn’t move forward without complete buy-in from Washington.

“We agree with all of the concerns,” he said."

 Technology Facebook privately pitched its cryptocurrency plan last month to regulators. They were left even more scared. | Washington Post