Facebook Chief Executive Mark Zuckerberg acknowledged before the House Financial Services Committee that Facebook is not the “ideal messenger” for its Libra cryptocurrency project, given ongoing criticism of the company, during his opening statement in on Wednesday.
In prepared testimony, Zuckerberg told lawmakers he supports delaying Libra’s launch, currently set for mid-2020 until U.S. regulatory concerns are fully addressed. He spoke about the intentions of Libra digital currency to facilitate money transfers, rather than compete with sovereign currencies or impact monetary policy.
Zuckerberg faced critical questions from Congressional lawmakers skeptical of Facebook’s efforts to build a worldwide digital currency, and other forays into financial services.
READ MORE:
Subscribe to Global News Channel HERE:
Like Global News on Facebook HERE:
Follow Global News on Twitter HERE:
#GlobalNews #Libra #Cryptocurrency #Zuckerberg