FIRST AIRED: July 17, 2019

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00:00:00
after all the times Facebook is abuse the public's trust and you know that do you really think people should trust Facebook with their hard earned money in order to use it your data has to be collected there's no option to opt out I only have five minutes which is not nearly enough time list all the things that Facebook has broken Facebook got a grilling in DC Tuesday over plans to launch a new digital currency called libra David Marcus the social media's top executive overseeing the project was in the hot seat defending it while vowing not to move ahead without regulatory approval Facebook through in a veiled warning about blocking it if our country fails to act we could soon see a digital currency controlled by others whose values are dramatically different from ours critics of libra have expressed anger at the company got so far in its plans without input from policy makers is specially when it's already in the spotlight over data privacy it's not just the US on Tuesday German finance minister Olaf Scholz also sounded alarm I'm libra saying the issuance of a currency doesn't belong in the hands of a private company the group behind the new digital currency known as the leaper association will be headquartered in Geneva and is already in preliminary talks with the Swiss financial market regulator Facebook is among the twenty eight founding members and will have its own digital wallet a libra that can be used FOR libra lawmakers raised concern about the data collection of Khalif brown and whether it could eventually be linked to the data from the Facebook platform meanwhile three senators critical of the tech giant's on Tuesday sent a letter to the Federal Trade Commission to criticize it's reported five billion dollars settlement with Facebook over the Cambridge analytica data breach calling it quote woefully inadequate