Libra Coin-Related Meeting Scheduled by the US Senate Banking Committee for July 16

  • As things stand, a public schedule for the hearing has not yet not been announced nor have any witnesses been designated for the same.
  • However, it is being reported that all of the house meetings will be broadcast live via the committee’s official website.

Maxine Waters — Chairwoman of the U.S. House Financial Services Committee — has recently called for a hearing regarding Facebook’s upcoming stablecoin offering called ‘Libra’.

The hearing is slated to take place on the 16th of July and has been titled “Examining Facebook's Proposed Digital Currency and Data Privacy Considerations”.

  • Despite Patrick McHenry — U.S. Representative for North Carolina's 10th congressional district — requesting the FSC (Financial Services Committee) to carry out a separate investigation into Facebook’s upcoming crypto offering, no such event has been scheduled till date.
  • McHeny has even written a letter to Waters requesting her to put a halt on the coin’s dev activities until FBs executive brass is able to answer certain questions associated with the stablecoins’ regulatory status.
  • In response, Waters was quoted as saying that she is willing to call on a number of Facebook officials to “testify before the committee.”
  • A host of US law enforcement agencies have been looking to procure more information regarding FBs future crypto plans — with the FSC’s core Banking Committee recently releasing an open letter to Mark Zuckerberg regarding a host of issues related to Libra’s regulatory and privacy framework.

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