LendingClub CEO Sees Facebook Coin Drawing Government Scrutiny
- Officials will have ‘a lot to say’ about new cryptocurrency
- He should know, as LendingClub has gotten plenty of attention
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Facebook Inc.’s attempt at remaking money with Libra, a new cryptocurrency, is likely to invite intense official scrutiny, according to Scott Sanborn, chief executive of LendingClub Corp.
“I think the U.S. government is going to have a lot to say about a fiat currency in the hands of a private company,” Sanborn said in an interview.