Facebook’s Libra Faces A New Set Of Challenges

Facebook’s Libra Faces A New Set Of Challenges

Facebook’s Libra has not been well received by the banking world. As we discussed during Episode 156, there are a number of folks who don’t want to see Facebook create a cryptocurrency. For instance, the US House of Representatives just presented a bill dubbed the Keep Big Tech Out of Finance Act. The legislation would restrict large companies from performing banking functions.

Meanwhile, Facebook and others will be facing antitrust claims from congress this week. Some in the press are calling these hearings “free entertainment” and we can’t help but agree. Top all that off with a $5 Billion fine from the FTC for this year’s Cambridge Analytica scandal and it appears the social network is having quite a week.

About the Author

avatar KALE: A geek who works in the IT Security field and lives in Dallas, TX. He is also a music geek who has played in several local bands. Previous to his IT career, Kale worked as a photojournalist. He brings technical advice and artistic counterpoint to the podcast.