US: Facebook's cryptocurrency Libra attacked at Senate hearing

US: Facebook's cryptocurrency Libra attacked at Senate hearing
Facebook's plan for a digital currency has come under further attack at a US hearing, with politicians calling the company delusional and not trusted, BBC reported.

The Senate Banking Committee is quizzing Facebook executive David Marcus over the tech giant's intention to launch its Libra digital currency.

One of the senators Sherrod Brown said that the company had showed through scandal after scandal that it doesn't deserve our trust.

The company announced last month plans to launch a digital currency, possibly next year, but first needs to get Washington lawmakers on its side. Unfortunately, critics have lined up to voice their concerns, including US president Donald Trump.

The social media company has pledged that the Libra Association, the supposedly independent body tasked with managing the currency, will only share customer data with Facebook and external third parties if it has consent or it is highly necessary.