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    US House Committee Wants Zuckerberg's Feet to Touch the Flame, Testify About Libra Coin

    The regulatory scrutiny over Libra in the United States continues. Now, the House Financial Services Committee of the country has recently invited more people who work on Facebook to testify. The latest two executives that were invited were Facebook’s COO Sheryl Sandberg and CEO Mark Zuckerberg, who will need to attend before January 2020.

    Sandberg is set to be the second executive of the company to testify. She will talk about the proposal for the Libra stablecoin and its Calibra wallet. Advertising policies of the company are also set to be important topics during the discussion. Recently, Facebook was sued for discriminatory practices in the housing market because of its ads.

    Before her, the CEO of Calibra, David Marcus testified. He talked about the goals of the company and its anti-money laundering policies.

    The commission is currently chaired by the Republican Maxine Waters, who was one of the most skeptical people in the committee. She is concerned that Facebook failed to protect user data and that malicious foreign actors could use Libra to purchase ads. She had requested Facebook to halt work on Libra some months ago.

    While the committee is focused on finishing the process before the end of the year, Zuckerberg must appear for that to happen. He is one of the key people behind Libra, so he must be heard.

    The situation of the Libra seems dire, but in a recent leaked audio Zuckerberg affirmed that public hearings tend to be very dramatic while “private meetings” with regulators are more

    “substantive and less dramatic”.

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    Hank Klinger
    Hank Klinger
    Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    1 COMMENT

    1. Public hearings are little more than free advertising opportunities for politicians who need to get re-elected every four years. How they actually feel about Libra is likely significantly different than the poll-driven attitude they adopt in public. Libra, and I've said this numerous times, is crypto's version of Amazon, Google and Netflix. It's the ‘everyday Joe' application that will change crypto from a niche market of little interest or relevance to the vast majority of people and launch it into the stratosphere.

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