Will Libra tip the scales?
Facebook announced recently that it is developing a cryptocurrency called Libra with various corporate partners such as Uber, Visa, Mastercard, and PayPal, according to the Associated Press. World finance leaders have expressed strong concerns. French Finance Minister Bruno Le Maire insisted that only governments could issue sovereign currency, the AP reported. Facebook plans to launch Libra early next year, though the head of the U.S. House Financial Services Committee wants Facebook to suspend plans until Congress and regulators are able to study them.