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08.11 - 17:37
Senators pressure Facebook to 'immediately discontinue' Novi wallet pilot
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Five Senators have called for the immediate closure of Facebook’s new crypto wallet just hours after it was launched in partnership with Coinbase.
Crypto skeptic Senator Elizabeth Warren was one of the five urging Facebook CEO Mark Zuckerberg to “immediately discontinue” the project. In a letter sent to Zuckerberg on Oct. 19, the five Democrat Senators wrote:
Diem is Facebook’s ambitious stablecoin project, formerly known as Libra, which has been the subject of heavy scrutiny and regulatory roadblocks for years resulting in a number of key partners pulling out of the venture. Novi is the firm’s crypto wallet, designed to hold the Diem token and other stablecoins.
Novi launched a pilot in the U.S. and Guatemala on Oct. 19 in partnership with
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