Big Tech regulation

Congress members express concerns over Facebook's cryptocurrency

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.

Digital ad industry commits to major overhaul

Illustration: Sarah Grillo/Axios

Dozens of the world's biggest advertising and content companies, including major tech firms, brands, ad agencies and industry groups, announced Tuesday their commitment to a newly-created alliance to take significant steps to improve digital safety.

Why it matters: It's the biggest and most comprehensive industry effort to date to tackle the ongoing brand safety crisis online. Competing groups are putting their differences aside to solve the problem quickly in the face of global regulatory threats.