Facebook's CEO is the sole witness at today’s much-anticipated House Financial Services Committee hearing. He plans to tell House lawmakers he’s willing to delay the launch of Libra — originally slated for 2020 — to address policymakers' concerns
at Georgetown. There, he stressed Facebook’s role in giving people a voice; here, he’ll highlight Facebook’s role in giving people access to a bank account and, in turn, a shot at taking part in the global economy.but could through mobile phones if the right system existed,” Zuck plans to say. “Being shut out of the financial system has real consequences for people’s lives—and it’s often the most disadvantaged people who pay the highest price. … The current system is failing them.
, Facebook’s industry dominance — including how the proposed cryptocurrency will be affected by Facebook’s market power — is likely to come up at the Libra grilling.until regulatory concerns are addressed is already falling flat with some critics. “I have a hard time believing that concerns from regulators will be addressed anytime soon,” Democratic Sen.
the director of the FTC’s Bureau of Consumer Protection, Andrew Smith. “Under these circumstances, we will seek to hold app developers accountable for designing and marketing a dangerous product.”
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