WASHINGTON (Reuters) – Facebook Chief Executive Mark Zuckerberg is on Capitol Hill this week to meet with senators as well as the social media giant faces scrutiny from both the Federal Trade Commission, and the members of the Conference, the company confirmed on Wednesday.
FILE PHOTO: Facebook CEO Mark Zuckerberg makes his keynote address during the Facebook Inc’s annual F8 developers conference in San Jose, California, united states, April 30, 2019. REUTERS/Stephen Lam
Zuckerberg will be in Washington to talk about the future of internet regulation, policy and decision makers, but does not have any public events scheduled at this time, Facebook said in a statement.
Can be done is to hold meetings late on Wednesday and Thursday on Capitol Hill. A person briefed on the matter, he said, was also expected to hold meetings with the Trumpet, and administration. A spokesman for the White House did not immediately have a comment.
It’s Zuckerberg’s first trip to Washington in April 2018, when he made a 10 hour of questions over two days, nearly 100 U.S. lawmakers on privacy issues, and the potential for regulation.
Facebook, which agreed to a record-setting $5-billion settlement with the u.s. Federal Trade Commission (“FTC”) regarding the privacy practices on July, is being confronted with the anti-trust investigations by the FTC and state attorneys general.
The FTC privacy probe was triggered last year by allegations that Facebook violated a 2012 consent decree due to inappropriate sharing of information, which include 87 million users, with the now-defunct British political consulting in Cambridge Analytica. It is the opinion of the clients included Trump’s 2016 presidential campaign.
The world’s largest social media network, has also drawn ire on Capitol Hill, after it announced plans in June to launch the Scale of crypto-currency, as it expands into e-commerce. The project, consisting of a group of financial companies headquartered in Switzerland, is scheduled to launch in 2020.
Supervisory authorities, central banks and politicians in both the United States and Europe are worried that the Scale has the potential to upend the world’s financial system, and harm to privacy and the promotion of the purpose of money laundering.
Facebook faces scrutiny from lawmakers on a range of issues, including privacy, market power, and the fight against extremism online, in the prevention of foreign intervention in the campaign, and the accusations of political bias.
The company is also being investigated by a group of state attorneys general led by New York city.
Once hailed as the engines of economic growth, the social media, internet search, e-commerce and other digital technologies are becoming more and more defensive about the void, such as breaches of privacy, and greater market influence.
Facebook, who is the owner of a one-time rivals, Instagram, and WhatsApp, with more than 1.5 billion daily users.
Report by David Shepardson, Editing by Rosalba O’brien and Leslie Adler