Congress members express concerns over Facebook's cryptocurrency

What they're saying:

• “Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data,” Waters said in a statement according to Reuters. “With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users.”
• “Facebook is already too big and too powerful, and it has used that power to exploit users’ data without protecting their privacy," said Sen. Sherrod Brown, the top Democrat on the Senate Banking Committee, in a statement per Reuters. "We cannot allow Facebook to run a risky new cryptocurrency out of a Swiss bank account without oversight."

Others like Sen. Mark Warner, as well as regulators in foreign countries, also expressed concern about the project.