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I asked Mark Zuckerberg at @FSCDems if he thinks #Libra should be regulated like a bank? He said no.
I asked if he thinks #Libra should be overseen by the SEC? He couldn't answer me clearly.
This is very concerning considering Facebook's advertising monopoly & corporate power.https://twitter.com/TakeOnWallSt/status/1187099579159908354 …
This is why I am introducing the Keep Big Tech Out of Finance Act. Whenever we have blended big business and banking in this country, we have run into problems. Whenever we have let commerce run wild, working people have ended up footing the bill. https://docs.house.gov/meetings/BA/BA00/20191023/110136/BILLS-116pih-KBTOFA.pdf …
Given Facebook’s track record of evading criminal liability, abusing private data, and manipulating markets with their monopolistic power, regulators should be considering how to break up Facebook, not greenlighting a new, dangerous project like #Libra.pic.twitter.com/30TBXZ0d47
Get ‘em Chuy!
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