Even after two days of testimony before Congress by Facebook’s David Marcus, questions abound about the company’s proposed Libra cryptocurrency.
High among them is whether Facebook will restrict access to Libra via Calibra, its wallet subsidiary. Although Facebook claims other companies will develop their own wallets to provide access to Libra services, Facebook’s ownership and endorsement of its Calibra wallet would likely make it the default option for any users. If it bars users from Calibra, it could de facto ban them from Libra.
Given suspicion among conservatives that the social network stifles their viewpoints, it’s perhaps not surprising GOP House members had pointed questions for Marcus at the House Financial Services Committee yesterday (July 17).
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