US lawmakers pan ‘Zuck buck’, want Facebook to rein in currency plan


  • TECH
  • Thursday, 18 Jul 2019

WASHINGTON: Facebook endured a second day of criticism from Congress over its plan to create a digital currency as senior House Democrats asked Facebook to scale back the project and threatened legislation that would block big tech companies from getting into banking. 

Facebook’s massive market power and its record of scandals, fines and privacy breaches were on trial at a hearing July 17 of the House Financial Services Committee. Lawmakers from both parties insisted they cannot trust the social network giant. 

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