libra

The panel’s plans were first reported by The Information technology news website

As International outcry mounts over Facebook’s upstart cryptocurrency

The latest watchdog to voice concerns about the social network’s move into financial services

After meeting the government officials in Switzerland that Facebook has said will regulate it

The announcement sparked fears of the unintended consequences of a loosely supervised global currency

As it expands to e-commerce and digital payments

Facebook is fighting to get Washington on its side after it shocked regulators and lawmakers with its plans for Libra

The lawmakers were the latest to criticize Facebook's digital coin plan unveiled last month with two dozen partners

“Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability"

The biggest cryptocurrency has gained over 45 per cent since Facebook laid out plans last month for its Libra coin