Facebook's biggest crypto problem may be its own reputation

The economic risks of a global cryptocurrency with the reach of Facebook were sufficient by themselves to give official Washington pause. It may be the social media giant’s own reputation, however, that poses the biggest challenge to bringing Libra to market.

Even the lawmakers, mostly Republican, who praised Mark Zuckerberg’s company for its innovation criticized a past checkered by data privacy breaches that affected millions of account-holders, failure to prevent misuse by Russian agents during the 2016 presidential election, and claims of partisan censorship.