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Facebook’s regulation dodge: Let us, or China will | TechCrunch

The leader of the Facebook initiative, David Marcus, said in his testimony to Congress that "if America does not lead innovation in the digital currency and payments area, others will. If we fail to act, we could soon see a digital currency controlled by others whose values are dramatically different”. When he says “others” he does not mean Amazon or Google. This might actually be Facebook’s strongest card. They are saying, I paraphrase, that you (ie, the US government) can allow people’s money to be controlled by us or by the Chinese Communisty Party.

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