Mark Zuckerberg to testify in front of Congress, plans to tell Libra will ‘extend America’s financial leadership’ – Libra News

Facebook, CEO Mark Zuckerberg, will testify in front of Congress on Wednesday, and he plans on to tell the Congress that will extend America's financial leadership as well as democratic values and oversight around the world. Zuckerberg would also tell the Congress that they would not launch the Libra until US regulators approve it.

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US regulators have been harsh on Facebook’s cryptocurrency project. This month social media giant suffered major setbacks as major backers of Libra Association pulled out from the crypto project.

CNBC reported that Zuckerberg plans to say, “While we debate these issues, the rest of the world isn’t waiting. China is moving quickly to launch similar ideas in the coming months,” Facebook originally planned to launch the cryptocurrency next year. But as the regulatory scrutiny has tightened up, nothing can be said with certainty.

Earlier, Calibra’s head David Marcus had appeared before Congress to answer lawmakers questions about the crypto project Libra. Libra Association also held its inaugural meeting this month in Switzerland as they selected five board members.

Many crypto experts believe that it is doubtful Facebook’s crypto project would get off the ground by the end of next year.

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Alexander Aryan
Alexander Aryan
After completing his Masters in Business Administration and Management from the California State University, Alexander dedicated his life into studying and writing about bitcoin and the technology behind it as he believes it to be the money of the future. Apart form being a writer, Alex is also a great speaker and loves to participate in blockchain events.

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