Government officials from both parties came out swinging against Facebook’s plans to launch its own cryptocurrency
WASHINGTON—Government officials from both parties came out swinging against Facebook Inc.’s plans to launch its own cryptocurrency.
Treasury Secretary Steven Mnuchin on Monday said Facebook Inc. faces a high bar to persuade authorities that it can safely launch the digital money and guard against risks ranging from money laundering to terrorism financing. Rep. Maxine Waters , the chairwoman of a powerful House committee, separately drafted legislation that would block the social-media company’s plans to operate...
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