Alexandria Ocasio-Cortez – New York Congresswoman – has reportedly brought up the control issue over Facebook’s Libra stablecoin during the US House Committee on Financial Services hearing session.

According to a recorded file of the hearing presented by C-Span, Ocasio-Cortez has raised a question with David Marcus – one of Facebook leaders and current head of the Calibra wallet.

“[Facebook] wants to establish a currency and act through its wallet as — at a minimum — a payment processor. Why should these activities be consolidated under one corporation?”

Ocasio-Cortez also posed some concerns regarding the Libra Association to Marcus, questioning whether the members of the Association have been voted in a democratic way. Marcus has then claimed negative, as they were elected and managed with membership standards.

“a currency controlled by an undemocratically-selected coalition of largely massive corporations.” Ocasio-Cortez concluded following Marcus’ answer.

“You stated yesterday in front of the Senate Committee that you would be open to accepting 100% of your pay in Libra. In the history of this country, there is a term for being paid in a corporate-controlled currency … It’s called “scrip”.The idea that your payments could be controlled by a corporation instead of a sovereign government. Do you think that there is any risk here? We’ve seen from scrip, to the issues with how Facebook handled our elections, we’re seeing a destabilizing in our public goods.” The Congresswoman addressed an issue of monetary policy.

Company scrip has been considered an illegal means of facilitating transactions in the US for nearly a hundred years, as the Fair Labor Standards Act of 1938 has disqualified them from being a “proper mediums of payments”.

Ocasio-Cortez further asked Marcus to share his point on Libra, together with other currencies, should be viewed as a public good.

“sovereign currency should remain sovereign,” Marcus replied, stated that he has no authority to decide on such matter.