Facebook's Cryptocurrency Project Faces Congressional Scrutiny

28 min
at 10:30 AM
In a picture taken on May 15, 2012, a logo of Facebook is displayed on a laptop screen inside a restaurant in Manila.  (Photo: Ted Aljibe/AFP/Getty Images)

Members of the Senate Banking Committee expressed skepticism Tuesday about Facebook's plan to launch a digital currency called Libra. David Marcus, who heads Facebook's blockchain subsidiary called Calibra, said the currency will build a "more inclusive financial infrastructure" and enable people to move money cheaply and safely. But lawmakers voiced concerns about consumer security, given the social media site's past data breaches. We'll talk about the latest developments.

Guests:

Nathaniel Popper, business reporter, New York Times; author, "Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money"

Ahmed Banafa, cryptocurrency and blockchain expert, San Jose State University

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