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WASHINGTON, D.C. — Last week, Congressman French Hill (AR-02), spoke with Bloomberg TV's Kevin Cirilli about the proposed cryptocurrency, Libra, and it's impact on American consumers. 

Congressman Hill argued that Congress should consider proper oversight of the money transfer aspect of Facebook's Calibra, ensuring that it will be fully licensed and regulated under current money laundering laws. Congressman Hill also stressed that Congress should be careful not to stifle private sector innovation, but at the same time, Facebook must verify that it can address ongoing privacy issues before launching "Libra."


Additional:

The Congressman's interview occurred following his participation in a House Financial Services Committee hearing titled “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System.” Click HERE to watch Congressman Hill's questions for David Marcus, head of Calibra at Facebook.