FILE PHOTO: Facebook Chief Executive Mark Zuckerberg enters the office of united states Senator, Josh Hawley (R-MO), during a meeting with lawmakers to discuss the future of internet regulation, on Capitol Hill in Washington, d.c., USA, September 19, 2019 at the latest. REUTERS/Joshua Roberts/Photo File
WASHINGTON (Reuters) – Facebook Inc’s Chief Operating Officer, Sheryl Sandberg, has tentatively agreed to testify before a US House committee on Oct. 29 about the company’s plans for a digital currency, but the panel does not schedule a hearing, to the Chief Executive, Mark Zuckerberg is wont to appear in January, a congressional source said on Thursday.
The House of Representatives and the Committee on Financial Services, which is the testimony of the Facebook executives, did not immediately respond to a request for comment. The panel’s plans were first reported by The Information, the technology news web site.
Facebook shocked the regulators and the legislators, with the announcement in June that it was in the hope that it will be launching a digital coin, called the Libra, by the year 2020.
Policy-makers, and financial watchdogs inside the country and abroad have been concerned about the impact of the large-scale adoption of bathroom Scales by the social media company’s 2.38 billion users on the global financial system.
“Facebook, on the plan of the serious privacy, commerce, homeland security, and the conduct of monetary policy, not only on Facebook has over 2 billion users, it offers direct access to these products, as well as for the consumers, the investors, and the global economy,” House Financial Services Committee Chairman Maxine Waters said at a hearing on a pair of Scales in mid-July. [nL2N24I0F1
Water and has called on Facebook to stop the execution of the cryptocurrency to the regulators, the Congress, the establishment of a legal framework.
Report by Pete Schroeder; Writing by Eric Beech; Editing by Peter Cooney