Facebook’s Novi Met With Significant Pushback From US Lawmakers

Facebook’s renewed effort to launch a digital currency (Diem) and a digital wallet (Novi) has met with strong opposition from Democratic lawmakers, who have gone on record to state that Facebook cannot be trusted to launch a digital currency.  The senators urged Facebook to dismiss their plans for their wallet Novi and commit not to bring Diem to the market after the company had repeatedly failed to protect its users.