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Despite outcry, Congress unlikely to block Facebook's crypto plan

Jul 22, 2019 - American Banker

WASHINGTON - Lawmakers from both sides of the aisle raised serious questions about Facebook's cryptocurrency project at hearings this week, but many at the same time have voiced objection to congressional action aimed at stopping the launch of Libra.

Even Democrats, who in general have been more critical of the company's plans, appear split on legislation to block any of the tech firms from delving further into the financial services business.

"I don't think we need to stop them," sa...