- Facebook goes ahead with Libra, set up a consortium to launch virtual currency
- Wall Street Journal: PayPal withdraws from Facebook's Libra project: "No to further participation"
Shareby Tiziana Di Giovannandrea October 23, 2019Mark Zuckerberg, president and CEO of Facebook, appeared in a hearing before the US Congress House on Libra , the cryptocurrency and the global payment system created in 2019 by the Facebook company with launch scheduled for 2020 .
It has long been known of the convocation at the Congress of Mark Zuckerberg because he had reported the same president of the Financial Services Commission of the American House, Maxine Waters, saying that the hearing would focus on the impact of Facebook on financial services and the sector real estate.
Zuckerberg, the CEO of Facebook, takes a step back and admits: Libra is a "complex and risky" project explaining that Facebook "is not the ideal messenger for Libra".
The founder and CEO of Facebook, while defining the American financial infrastructure as "dated", in fact confesses that he has some difficulties in terms of reputation.
The subject of the hearing is Libra, but right from the start it is clear that the topics on the agenda are broader. Commission president, Maxine Waters, accuses Facebook of being a "massive attempt to suppress voting at a click". Waters then goes even further and says to Zuckerberg: "You claim to promote freedom of expression, but this does not sound like the truth. Perhaps you think you are above the law".