Diem tells Senators on the warpath -

Diem tells Senators on the warpath over Novi: We’re not actually Facebook

DAILY CRYPTO SIGNALS _ In response to a letter from the U.S. calling on Facebook to halt its stablecoin and crypto wallet projects, Diem stated that it “is not Facebook. We are an independent organization” Top 5 DeFi Projects by Market Capitalization

Stablecoin project Diem has distanced itself from its Facebook in response to Democrat Senators calling for the immediate cessation of the firm’s Novi crypto wallet.

Diem also claimed senior regulators had called it “the best-designed stablecoin project that the U.S. government had seen.”

In an Oct. 19 letter sent to Facebook CEO Mark Zuckerberg, the Senators including crypto critic Elizabeth Warren, voiced their “strongest opposition to Facebook’s revived effort to launch a cryptocurrency and digital wallet.”PayPal To Let US Residents Make Payments With Crypto

Diem tells Senators on the warpath over Novi: We’re not actually Facebook Coinbase’s COIN stock reference

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Diem defended itself by claiming it has the “most robust controls in the industry.”

“Beyond financial crime compliance, we engaged extensively with an inter-agency regulatory team about the design of the project. As part of that review, we made adjustments to reflect feedback we received, and we were informed by a senior regulator that Diem is the best-designed stablecoin project that the U.S. government had seen,” Diem said.

Diem tells Senators on the warpath over Novi: We’re not actually Facebook

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