Facebook’s Libra receives flak from US legislation: Asked to put a stop to its developments

A week after officially announcing its launch, Facebook’s very own cryptocurrency Libra runs into more trouble with US lawmakers demanding the social media giant to halt all developments in this regard. Owing to Facebook’s previous defamation lawsuits concerning user data breach and privacy violations, statesmen from both Republican and Democratic parties have cast a no-confidence vote on Facebook’s digital currency. Reactions from law officials Congresswoman Maxine Waters, chair of the House Financial Services Committee (HFSC), published an official statement “Considering the fact Facebook has run into crisis over data-sharing scandals in past, I am not fully convinced of its capability