U.S. Lawmakers Pick Holes In Libra Crime Controls

U.S. lawmakers have raised concerns that the structure of Facebook's controversial Libra cryptocurrency could make it highly attractive to criminals, calling into question whether checks by wallet providers are enough to cut out illicit activity.

Libra's chief architect David Marcus was called in front of the House of Representatives' Financial Services Committee on Wednesday — his second appearance before legislators this week — to face tough questions on how the cryptocurrency, its overarching wallet network and governance body will meet regulatory requirements.

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