Facebook's annual F8 conference in San Jose, Calif.f. Photo: Justin Sullivan/Getty Images

After Facebook unveiled plans for its own cryptocurrency, Congress members including Rep. Maxine Waters (D-Calif.), who chairs the House Financial Services Committee, and fellow committee member Rep. Patrick McHenry (R-N.C.) called for the tech company to testify and push pause on the project.

Why it matters: Facebook's Libra cryptocurrency project is ambitious, but hinges on regulatory approval if it wants to enable users to convert the currency to and from fiat money.

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.

Go deeper

Updated 20 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 20,294,091 — Total deaths: 741,420— Total recoveries: 12,591,454Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 5,141,207 — Total deaths: 164,537 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten scraps fall football season.
  7. World: Anthony Fauci "seriously" doubts Russia's coronavirus vaccine is safe
2 hours ago - World

EU threatens Belarus with sanctions amid third night of unrest

Belarus riot police detain protesters in Minsk on Tuesday. Photo: Sergei Gapon/AFP via Getty Images

The European Union warned Tuesday it could reimpose sanctions on Belarus as riot police clashed for a third night with demonstrators protesting this week's elections that the EU described as "neither free nor fair," per the Guardian.

Why it matters: The EU removed most sanctions against Belarus four years ago, after "Europe's last dictator" Alexander Lukashenko released political prisoners and permitted protests, AP notes. The EU said in a statement Tuesday it would be "conducting an in-depth review" into its relations with former Soviet country over his elections win claim and the deadly crackdown on protesters.

Ilhan Omar wins Minnesota primary

Photo: Stephen Maturen/Getty Images

Rep. Ilhan Omar (D-Minn.) won the Democratic primary against lawyer Antone Melton-Meaux on Tuesday evening, AP reports.

Why it matters: The race is one that's played out across the U.S. as progressives continue to sweep party nominations. Omar's win officially means all four progressive members of "The Squad" have won their primary elections.