Facebook’s plan to launch a cryptocurrency has raised concerns that state banking regulators may not be equipped to oversee large, international companies.
After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.
The speed and the bipartisan nature of the demand for an investigation into Facebook's Libra are telling, giving ammunition to those who warned the cryptocurrency space is underregulated and unsafe
