RATE Group | Mark Zuckerberg to testify before Congress on Facebook’s libra cryptocurrency
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Mark Zuckerberg to testify before Congress on Facebook’s libra cryptocurrency

19 Oct Mark Zuckerberg to testify before Congress on Facebook’s libra cryptocurrency

Posted at 15:14h in Cryptocurrency News by

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Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee this month, the committee announced Wednesday.

Zuckerberg will be the only witness at a hearing, which is scheduled for Oct. 23 at 10 a.m. ET, entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” House members had been pushing for Zuckerberg to testify on Facebook’s cryptocurrency plans as the committee had been in talks with his COO, Sheryl Sandberg, about testifying, CNBC reported last week.

Committee Chairwoman Maxine Waters, D-Calif., previously requested Facebook halt implementation of the libra cryptocurrency ahead of a July hearing with the project’s lead. Waters later seemed dissatisfied with the lack of commitment from David Marcus, Facebook’s crypto chief, to postponing the company’s plans.

Since then, a number of international authorities have expressed concern over libra and one of the project’s original backers, PayPal, has dropped out….

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