Are the US government's concerns with Libra really about all of crypto?

#1

I just read the letter from Maxine Waters re: Libra. Despite it sounding like the US government is about 10 years behind on things (which they are), and that Maxine is about 20 years behind on things, it reads more like they are concerned with crypto in general.

“If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger U.S. and global financial stability”
“These vulnerabilities could be exploited and obscured by bad actors, as other cryptocurrencies, exchanges, and wallets have been in the past.”

If this is really where the US gov’t stands on these issues…man, are we gonna have a mess on our hands…

#2

…and is FB putting themselves into a position to be the voice the US gov’t listens to as they form their opinions on crypto…maybe that is what is in it for them. I can see FB telling the US that they need any crypto to be centralized, like Libra :smile: