RATE Group | Facebook’s Mark Zuckerberg is talking to Congress about cryptocurrency
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Facebook’s Mark Zuckerberg is talking to Congress about cryptocurrency

23 Oct Facebook’s Mark Zuckerberg is talking to Congress about cryptocurrency

Posted at 07:15h in Cryptocurrency News by

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Mark Zuckerberg will return to Washington Wednesday for more questioning, where the CEO is expected to answer queries from the House Financial Services Committee.

The point of the meeting? Cryptocurrency.

What’s going on: Facebook has long-held plans to create its own cryptocurrency. Earlier this year, Facebook launched one, called libra, under the umbrella of the Libra Association, which will govern the cryptocurrency. Facebook said it won’t launch the cryptocurrency until it receives the thumbs up from lawmakers, according to CNBC.

But the Libra Association and Facebook’s ties to cryptocurrency haven’t been well received. Libra Association watched its partnerships drop, for example, as Visa, Mastercard, Paypal, eBay, Stripe, Booking and Mercado Page all left the association. Lawmakers have scoffed at the idea, too. Company executives have questioned the idea of libra, but Zuckerberg has always been a fan of digital currency and bitcoin.

This has left the Libra…

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