Cryptocurrencies

Maxine Waters Wasn't Kidding About Facebook Token Moratorium

Lawmaker has reached out to House leadership on Libra pause
She says Facebook hasn’t responded to her demand for a halt

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By Benjamin Bain

June 25, 2019 at 4:39 PM UTC

Updated on

June 25, 2019 at 7:39 PM UTC

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The powerful chairwoman of the House Financial Services Committee is doubling down on her demand that Facebook Inc. hit the pause button on its ambitious cryptocurrency.

Representative Maxine Waters said Tuesday that she’s pressing House leadership and other lawmakers to join her in requesting that the social media giant halt any development until Congress has a chance to review the token, known as Libra. The California Democrat added that Facebook hasn’t responded to her call for a moratorium, which she first made June 18.