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The US Congress wants Zuckerberg to testify in January about Libra, the cryptocurrency of Facebook

October 4, 2019

Appearance of Mark Zuckerberg, founder and CEO of Facebook, before the Commerce and Judicial Commissions of the United States Senate, on April 10, 2018 – REUTERS – Archive

WASHINGTON, Oct. 4 (Reuters / EP) –

The director of operations of Facebook, Sheryl Sandberg, has agreed to testify before a commission of the House of Representatives of the United States on October 29 on a plan of the company to launch its own cryptocurrency, Libra, but the panel will not set the hearing until the executive president, Mark Zuckerberg, pledges to testify in January, a congressional source said Thursday.

Facebook surprised US regulators and legislators with its announcement in June that it expected to launch a digital currency known as Libra in 2020.

Policy makers are concerned about the effect of the widespread adoption of Libra by the 2,380 million users of the social media company in the global financial system.

“Facebook's plans raise serious concerns about privacy, commerce, national security and monetary policy. Not only for the more than 2 billion Facebook users, who will have immediate access to these products, but also for consumers, investors and the economy worldwide, “commission president Maxine Waters said in July.

Waters has asked Facebook to stop the implementation of the cryptocurrency until regulators and Congress can enact a legal framework.