The Libra hearing has been one of the most enticing topics as media houses from all over the world aired the live hearing before the US House Committee on Financial Services. David Marcus, the head of the Libra Association, was grilled for hours on the authority of the Libra network and specifically about Facebook’s role in it.
As it happened the day before, at the hearing with the Banking, Housing and Urban Affairs Committee, Facebook’s reputation is setting a bad precedent for the Libra network.
Both the Committees have expressed complete disregard for the Social Media Giant and hence, express dislike for its cryptocurrency endeavor as well. Moreover, the Financial Committee also established that Libra is not a cryptocurrency.