US Congressmen seek clarity about Facebook’s crypto plans from head of financial crime unit

A recent briefing by the Financial Crimes Enforcement Network (FinCEN) to U.S. Congressmen on the Financial Services Committee led to hard hitting questions over data privacy on Facebook's Libra, particularly from Rep. Emmanuel Cleaver (D-MO). "Before we allow such a giant corporation to begin processing millions to billions of financial transactions," Cleaver said, "we have to study these issues and ensure we have the tools and guardrails in place to deter terrorists, extremists, and/or enemies from utilizing such a platform to do harm to our nation."

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