Government
Committee Democrats Call On Facebook To Halt Cryptocurrency Plans
SEATTLE MEDIUM — Last week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee; Congresswoman Carolyn Maloney (D-NY), Chair of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee; Congressman William Lacy Clay (D-MO), Chairman of the Housing, Community Development and Insurance Subcommittee; Congressman Al Green (D-TX), Chairman of the Oversight and Investigations Subcommittee; and Congressman Stephen F. Lynch (D-MA), Chairman of the Task Force on Financial Technology, wrote a letter to Mark Zuckerberg, Founder, Chairman and Chief Executive Officer of Facebook; Sheryl Sandberg, Chief Operating Officer of Facebook; and David Marcus, Chief Executive Officer of Calibra, requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency and digital wallet.
By The Seattle Medium
WASHINGTON – Last week, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee; Congresswoman Carolyn Maloney (D-NY), Chair of the Investor Protection, Entrepreneurship and Capital Markets Subcommittee; Congressman William Lacy Clay (D-MO), Chairman of the Housing, Community Development and Insurance Subcommittee; Congressman Al Green (D-TX), Chairman of the Oversight and Investigations Subcommittee; and Congressman Stephen F. Lynch (D-MA), Chairman of the Task Force on Financial Technology, wrote a letter to Mark Zuckerberg, Founder, Chairman and Chief Executive Officer of Facebook; Sheryl Sandberg, Chief Operating Officer of Facebook; and David Marcus, Chief Executive Officer of Calibra, requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency and digital wallet.
“Because Facebook is already in the hands of over a quarter of the world’s population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action,” the lawmakers wrote.“During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail.”
This letter comes on the heels of Chairwoman Waters’ initial request for Facebook to agree to a moratorium in June.
The Chairwoman has also announced plans to convene a full Committee hearing entitled, “Examining Facebook’s Proposed Cryptocurrency and Its Impact on Consumers, Investors, and the American Financial System” on Wednesday, July 17.
See full text of the letter below.
July 2, 2019
Mark Zuckerberg
Founder, Chairman and Chief Executive Officer
Facebook
1 Hacker Way
Menlo Park, CA 94025
Sheryl Sandberg
Chief Operating Officer
Facebook
1 Hacker Way
Menlo Park, CA 94025
David Marcus
Chief Executive Officer
Calibra
Facebook
1 Hacker Way
Menlo Park, CA 94025
Dear Mr. Zuckerberg, Ms. Sandberg, and Mr. Marcus:
We write to request that Facebook and its partners immediately agree to a moratorium on any movement forward on Libra—its proposed cryptocurrency and Calibra—its proposed digital wallet. It appears that these products may lend themselves to an entirely new global financial system that is based out of Switzerland and intended to rival U.S. monetary policy and the dollar. This raises serious privacy, trading, national security, and monetary policy concerns for not only Facebook’s over 2 billion users, but also for investors, consumers, and the broader global economy.
On June 18, 2019, Facebook announced its plans to develop a new cryptocurrency, called Libra, and a digital wallet to store this cryptocurrency, known as Calibra. To assist it in this venture, Facebook has enlisted 27 other companies and organizations to form the Libra Association, which is based out of Switzerland. [1] These companies span the financial services and retail industry and include payment systems, like Mastercard, Paypal, and Visa, and technology giants, like Uber, Lyft, and Spotify. By the target launch date of early 2020, Facebook hopes to have recruited over 100 firms into the Libra Association.
While Facebook has published a “white paper” on these projects, the scant information provided about the intent, roles, potential use, and security of the Libra and Calibra exposes the massive scale of the risks and the lack of clear regulatory protections. If products and services like these are left improperly regulated and without sufficient oversight, they could pose systemic risks that endanger U.S. and global financial stability. These vulnerabilities could be exploited and obscured by bad actors, as other cryptocurrencies, exchanges, and wallets have been in the past. Indeed, regulators around the globe have already expressed similar concerns, illustrating the need for robust oversight.[2]
Investors and consumers transacting in Libra may be exposed to serious privacy and national security concerns, cyber security risks, and trading risks. Those using Facebook’s digital wallet – storing potentially trillions of dollars without depository insurance– also may become unique targets for hackers. For example, during the first three quarters of 2018, hackers stole nearly $1 billion from cryptocurrency exchanges.[3]The system could also provide an under-regulated platform for illicit activity and money laundering.
These risks are even more glaring in light of Facebook’s troubled past, where it did not always keep its users’ information safe. For example, Cambridge Analytica, a political consulting firm hired by the 2016 Trump campaign, had access to more than 50 million Facebook users’ private data which it used to influence voting behavior.[4] As a result, Facebook expects to pay fines up to $5 billion to the Federal Trade Commission (FTC), and remains under a consent order from FTC for deceiving consumers and failing to keep consumer data private. In the first quarter of 2019 alone, Facebook has also removed more than 2.2 billion fake accounts, including those displaying terrorist propaganda and hate speech.[5]It has also recently been sued by both civil rights groups[6] as well as the U.S. Department of Housing and Urban Development for violating fair housing laws on its advertising platform and through its ad delivery algorithms.[7]
Because Facebook is already in the hands of a over quarter of the world’s population, it is imperative that Facebook and its partners immediately cease implementation plans until regulators and Congress have an opportunity to examine these issues and take action. During this moratorium, we intend to hold public hearings on the risks and benefits of cryptocurrency-based activities and explore legislative solutions. Failure to cease implementation before we can do so, risks a new Swiss-based financial system that is too big to fail.
Sincerely,
Rep. Maxine Waters, Chairwoman
Rep. Carolyn Maloney, Chair – Subcommittee on Investor Protection, Entrepreneurship and Capital Markets
Rep. Wm. Lacy Clay, Chair – Subcommittee on Housing, Community Development and Insurance
Rep. Al Green, Chair – Subcommittee on Oversight and Investigations
Rep. Stephen F. Lynch, Chair – Task Force on Financial Technology
[1] The 27 other members of the Libra Association are Mastercard, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa, Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, MercadoPago, Spotify AB, Uber Technologies, Inc., Iliad, Vodafone Group, Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited, Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures, Creative Destruction Lab, Kiva, Mercy Corps, and Women’s World Banking
[2] See, e.g. The Honorable Randal K. Quarles, Vice Chairman of Supervision for the Board of Governors of the Federal Reserve System and Chair of the Financial Stability Board, Financial Stability Board Chair’s letter to G-20 Leaders meeting in Osaka, June 25, 2019, https://www.fsb.org/2019/06/fsb-chairs-letter-to-g20-leaders-meeting-in-osaka/. (“A wider use of new types of crypto-assets for retail payment purposes would warrant close scrutiny by authorities to ensure that that they are subject to high standards of regulation.”); Bank of International Settlements Annual Economic Report, Big tech in finance: opportunities and risks, June 23, 2019, https://www.bis.org/publ/arpdf/ar2019e3.htm. (“Big techs have the potential to become dominant through the advantages afforded by the data-network activities loop, raising competition and data privacy issues. Public policy needs to build on a more comprehensive approach that draws on financial regulation, competition policy and data privacy regulation… As the operations of big techs straddle regulatory perimeters and geographical borders, coordination among authorities – national and international – is crucial.”)
[3] CipherTrace Cryptocurrency Intelligence, Cryptocurrency Anti-Money Laundering Report, 2018 Q3 https://ciphertrace.com/wp-content/uploads/2018/10/crypto_aml_report_2018q3.pdf.
[4] Kevin Granville, Facebook and Cambridge Analytica: What You Need to Know as Fallout Widens, (March 19, 2018).
[5] Facebook, Community Standards Enforcement Report (2019 Q1).
[6] Complaint, Nat’l Fair Housing Alliance et al. v. Facebook, Inc., No. 18-cv-02689 (S.D.N.Y Mar. 27, 2018), https://nationalfairhousing.org/wp-content/uploads/2018/03/NFHA-v.-Facebook.-Complaint-w-Exhibits-March-27-Final-pdf.pdf.
[7] Charge of Discrimination, U.S. Dep’t of Housing & Urban Development v. Facebook, Inc., FHEO No. 01-18-0323-8 (March 28, 2019), https://www.hud.gov/sites/dfiles/Main/documents/HUD_v_Facebook.pdf.
This article originally appeared in the Seattle Medium.
Activism
Oakland Hosts Town Hall Addressing Lead Hazards in City Housing
According to the city, there are 22,000 households in need of services for lead issues, most in predominantly low-income or Black and Latino neighborhoods, but only 550 to 600 homes are addressed every year. The city is hoping to use part of the multimillion-dollar settlement to increase the number of households served each year.

By Magaly Muñoz
The City of Oakland’s Housing and Community Development Department hosted a town hall in the Fruitvale to discuss the efforts being undertaken to remove lead primarily found in housing in East and West Oakland.
In 2021, the city was awarded $14 million out of a $24 million legal settlement from a lawsuit against paint distributors for selling lead-based paint that has affected hundreds of families in Oakland and Alameda County. The funding is intended to be used for lead poisoning reduction and prevention services in paint only, not water or other sources as has been found recently in schools across the city.
The settlement can be used for developing or enhancing programs that abate lead-based paint, providing services to individuals, particularly exposed children, educating the public about hazards caused by lead paint, and covering attorney’s fees incurred in pursuing litigation.
According to the city, there are 22,000 households in need of services for lead issues, most in predominantly low-income or Black and Latino neighborhoods, but only 550 to 600 homes are addressed every year. The city is hoping to use part of the multimillion-dollar settlement to increase the number of households served each year.
Most of the homes affected were built prior to 1978, and 12,000 of these homes are considered to be at high risk for lead poisoning.
City councilmember Noel Gallo, who represents a few of the lead-affected Census tracts, said the majority of the poisoned kids and families are coming directly from neighborhoods like the Fruitvale.
“When you look at the [kids being admitted] at the children’s hospital, they’re coming from this community,” Gallo said at the town hall.
In order to eventually rid the highest impacted homes of lead poisoning, the city intends to create programs and activities such as lead-based paint inspections and assessments, full abatement designed to permanently eliminate lead-based paint, or partial abatement for repairs, painting, and specialized cleaning meant for temporary reduction of hazards.
In feedback for what the city could implement in their programming, residents in attendance of the event said they want more accessibility to resources, like blood testing, and information from officials about lead poisoning symptoms, hotlines for assistance, and updates on the reduction of lead in their communities.
Attendees also asked how they’d know where they are on the prioritization list and what would be done to address lead in the water found at several school sites in Oakland last year.
City staff said there will be a follow-up event to gather more community input for programming in August, with finalizations happening in the fall and a pilot launch in early 2026.
Alameda County
Oakland Begins Month-Long Closure on Largest Homeless Encampment
At 8 a.m. sharp, city workers began piling up trash and dismantling makeshift homes along the nearly five-block encampment. City crews blocked off streets from 14th Ave to 17th Ave, between E. 12th and International Blvd, due to the Safe Work Zone Ordinance that was passed by the city council in 2022 to protect workers from harassment during cleanings, according to a city spokesperson.

By Magaly Muñoz
The City of Oakland began a three-week-long breakdown of the largest homeless encampment in the city on E. 12th Street on Monday morning. Residents and advocates said they are devastated about the displacement of dozens of people.
At 8 a.m. sharp, city workers began piling up trash and dismantling makeshift homes along the nearly five-block encampment. City crews blocked off streets from 14th Ave to 17th Ave, between E. 12th and International Blvd, due to the Safe Work Zone Ordinance that was passed by the city council in 2022 to protect workers from harassment during cleanings, according to a city spokesperson.
Jaz Colibri, one of the many advocates at the closure, said the encampment sweeps were “intense and terrifying” to witness. They claimed that several residents, many of them non-English speakers, had not been aware that the sweep was happening that day because of a lack of proper communication and outreach from Oakland.
Colibri added that the city had done a Census “many months ago” and “had not bothered to count people since then”, meaning dozens of individuals have missed out on housing and resources in the last few weeks because the city doesn’t offer outreach in multiple languages.
“Basically, [Oakland] dropped the ball on actually getting to know everybody who lives here and then creating a housing solution that meets everyone’s needs,” Colibri said.
City spokesperson Jean Walsh told the Post that notices of the closure operation were posted in Spanish and Chinese prior to Monday, but did not clarify if outreach was done in those languages as well.
Nearly a dozen Oakland police vehicles, California Highway Patrol officers, and Oakland Public Works staff were gathered along E 12th waiting for residents to pack up their belongings and move away from the area.
Advocates said residents “felt unsafe” due to the hefty law enforcement presence.
One city worker, who was picking up debris near 16th Ave, said, “They’ve known we were coming for a long time now” in reference to resident confusion about the sweeping.
The state doubled down on its requirement to get cities and counties to deal with their homelessness crisis at a press conference Monday afternoon. Gov. Gavin Newsom’s office released a “model ordinance” that is intended to provide a starting point that local municipalities can use to build from and adjust in creating their own policies on encampments, if they haven’t done so yet.
Newsom said “No more excuses, time to deliver” after the state has poured hundreds of millions of dollars into solving the issue.
Oakland was awarded a $7.2 million grant from the state in 2024 to close long-standing encampments in the city, including camps at Martin Luther King, Jr. and 23rd Street, and Mosswood Park.
Residents at these encampments were offered wraparound supportive services, temporary shelter, and eventually will be transitioned to permanent supportive housing, according to a city statement from last year.
Residents who accepted housing at these three encampments were moved into newly acquired property, formerly the Extended Stay America Hotel in West Oakland, which will first serve as interim housing for up to 150 individuals and couples in 105 units, and in the coming year, will be converted into 125 units of permanent housing.
Walsh said as of May 2, “32 residents of the recently closed Mosswood Park encampment moved into the Mandela House program” and as of May 12, “41 residents of the East 12th Street encampment have already accepted offers to move to the Mandela House.” The city will provide final numbers of how many accepted and moved into housing after the closure operation is over.
Activism
Asm. McKinnor Pushes Bill to Protect California Workers from High Heat, Other Climate Hazards
“Extreme heat is on the rise, with year-over-year, record-breaking temperatures that threaten the health and safety of California workers, from warehouse workers who lack adequate cooling, to janitors cleaning buildings after the air conditioning has been turned off, to line chefs cooking in unventilated kitchens,” McKinnor said at the rally.

By Antonio Ray Harvey, California Black Media
On May 6, employees from industries across the private and public sectors — including utility, domestic, janitorial, healthcare, oil and gas, and farm workers — joined educators and others in Sacramento to push lawmakers to strengthen the state’s health and safety enforcement systems.
The rally at the State Capitol was organized by a statewide coalition of 15 worker unions called California Labor for Climate Jobs (CLCJ).
Organizers say their campaign to pressure legislators and state officials to not abandon their responsibility to protect workers is urgent as climate hazards rise and federal government efforts to pull back on oversight and enforcement increase.
“Approximately 19 million workers in the state are here together to have a say in what happens next,” said Norman Rogers, vice president of United Steelworkers Local 675. “In seven of the last eight years, California has recorded record-high temperatures while workers from our state’s fields to our commercial kitchens, from our warehouses to our schools continue to work in dangerously high-heat conditions.”
Cal/OSHA provides protection and improves the health and safety of working men and women in the state. The agency also enforces public safety measures to protect passengers riding on elevators, amusement rides, tramways, and more.
According to a 2023 report by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), workplace hazards are responsible for killing approximately 140,000 workers each year, including 5,283 from traumatic injuries.
Hazardous working conditions have caused an estimated 135,000 deaths from occupational diseases. That’s about 385 workers dying each day, according to the report.
Assemblymember Tina McKinnor (D-Inglewood) spoke at the rally to discuss legislation she authored, Assembly Bill (AB) 694, which proposes a pathway to jobs for Cal/OSHA to ensure stronger public safety enforcement.
According to CLCJ, Cal/OSHA is experiencing an understaffing crisis that is evident in the agency’s 43% vacancy rate.
McKinnor, a member of the California Legislative Black Caucus (CLBC), said the bill aims to fully staff the state agency with enforcement agents who have expertise in working in California’s most dangerous work environments.
The Assembly Committee on Higher Education voted 9-0 to advance AB 694 on April 29. It is now headed to the Committee on Appropriations for consideration.
“Extreme heat is on the rise, with year-over-year, record-breaking temperatures that threaten the health and safety of California workers, from warehouse workers who lack adequate cooling, to janitors cleaning buildings after the air conditioning has been turned off, to line chefs cooking in unventilated kitchens,” McKinnor said at the rally.
McKinnor continued, “We must urgently shore up our health and safety systems, so we can enforce California heat standards and safeguard worker health.”
CLCJ released the California Worker Climate Bill of Rights last fall, urging state legislators to propose policy solutions to protect workers from climate hazards such as extreme heat, fires, smoke, and floods.
Norman Rogers, Second Vice President of United Steelworkers Local 675 in Carson, said oil refinery operations around the state pose “the most hazards.
“AB 694 seeks to recreate Cal/OSHA to hire union oil and gas workers leveraging the knowledge, health and safety training, and process safety training used daily to ensure safe, compliant refinery operations,” Rogers added.
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