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Facebook defends Libra after US lawmakers call for pause

Democrats want strict oversight of cryptocurrency, warn of global finance risk

Facebook's blockchain head defends Libra after U.S. lawmakers ask the company to pause the cryptocurrency project.   © Reuters

PALO ALTO, U.S.-- Facebook and U.S. lawmakers are at odds over the potential dangers of the social media giant's Libra cryptocurrency project, two weeks after its announcement.

On Tuesday, the California-based company received a letter from Congresswoman Maxine Waters, chair of the House Financial Services Committee, and four House Democrats asking that the company pause the project to give regulators more time to assess Libra's potential risks.

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