Mark Zuckerberg to testify before House Financial Services Committee on Facebook's 'Libra' cryptocurrency

Xeni Jardin 8:54 am Wed Oct 9, 2019

The House Financial Services Committee has asked Facebook CEO Mark Zuckerberg to testify on Facebook's planned Libra cryptocurrency, and he will do so on October 23.

“Mark looks forward to testifying before the House Financial Services Committee and responding to lawmakers’ questions,” a Facebook spokesperson told CNBC:

Facebook CEO Mark Zuckerberg will testify before the House Financial Services Committee on Oct. 23 at 10 a.m. Eastern Time, the committee announced Wednesday.

Zuckerberg will be the only witness at a hearing 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 second-in-command about testifying, CNBC reported last week.

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

Sheryl Sandberg has been planning to testify but chairwoman Maxine Waters was insistent on Zuckerberg so he’ll be defending cryto currency that is getting a lot of scrutiny in Washington. Hill has told me they feel Libra announced launch has shown “hubris”

— CeciliaKang (@ceciliakang) October 9, 2019

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