When Facebook’s Libra Team Came To Congress

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When Facebook’s Libra Team Came To Congress


The Almighty Buck

Facebook

Government

United States

When Facebook’s Libra Team Came To Congress (prospect.org)






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EditorDavid

from the Congress-vs-Cryptocurrency dept.

“Staffers challenge Facebook’s happy talk about its digital currency in a briefing,” reports the American Prospect, introducing a new article in a series written anonymously by Congressional staffers, this time a House Democratic aide “who attended a briefing last Thursday with executives who are developing Libra…”

“Such briefings are commonplace to convince staffers who write legislation (and by association the members they serve) of the righteousness of corporate causes.”

The briefing was fascinating. The lead representative, the head of policy for Libra, kicked it off by admitting that the whole endeavor required a “suspension of disbelief.” They were asked about the timeline, and said they hoped to have Libra operational in about a year, which they kept suggesting was a prolonged timeline, but didn’t seem lengthy to anyone in the room.

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