During the Presidency of Barack Obama, we didn't see outrage from the Democrats then.
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I do think, however, it was a really good hearing, because we now have before Congress a deeper understanding about these digital assets and the breathtaking speed at which the world is changing and how we have to catch up.
There's something additional here, which is that people fear something they don't understand.
I fear not well, though. There's a breathlessness to the hyperventilation about Facebook.
When they don't understand innovation, they want to kill it.
Mr. Marcus gave me two promises in our conversation yesterday, both of which he knows they will not comply with.
I want to keep this simple. Mr. Marcus, I have read your White Paper. I understand the nature of digital currency and digital technology. What is a Libra?
Some politicians want us to live in a permission-based society, where you need to come to the government, and ask for its blessing before you can begin to even think about innovating.
The reality is whether Facebook is involved or not, change is here.
Just because we may not fully understand a new technology proposal does not mean we should immediately call for its prohibition.
We are here to go beyond the headlines. We are here to sift through the speculation and the hearsay.
So is it your view that the development internally at Facebook is for you to be a competitor to Alipay and to WePay?
People call this the 'Libra.' It is not the Libra. If it finally happens, nobody is going to call it a 'Libra.' They are going to call it a 'Zuck Buck.' This is Zuckerberg's baby.
America's power comes from the power of the dollar more, I think, than the power of our military.
If you are seeking to be a competitor to Alipay and to WePay, why are you doing this in Switzerland and why are you using a basket of currencies?
The association will still have the ability to set the rules when it comes to anti-money-laundering programs.
There is tension between the notion of a decentralized currency, or something decentralized, and ultimately privacy.