Tech & Telecom Law News

Senate Republican Lauds Libra Members for Braving Political Heat

Oct. 17, 2019, 9:28 PM

A Senate Banking Committee Republican is praising the members of the Facebook-led Libra Association for their “entrepreneurial spirit” in moving forward with plans to launch a global cryptocurrency payments project that’s come under intense skepticism in Washington.

The Oct. 17 letter from Sen. Mike Rounds (R-S.D.) is a counterpoint to an Oct. 8 letter from two Democrats on the committee, Sens. Sherrod Brown (Ohio) and Brian Schatz (Hawaii) that warned payments companies Visa Inc., Mastercard Inc. and Stripe Inc. about enhanced regulatory scrutiny of their entire business operations if they remained in the group. The companies confirmed they were leaving...

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