SAN FRANCISCO (AP) — Facebook CEO Mark Zuckerberg plans to tell Congress Wednesday that the company’s planned Libra cryptocurrency won’t launch unless all U.S. regulators approve.
In prepared remarks released Tuesday ahead of a hearing before the House Financial Services Committee, Zuckerberg says that Facebook will not be part of launching the new digital currency anywhere in the world without U.S. government approval.READ MORE: California Drought: Healdsburg Bans Sprinklers; Sets Personal Water Use To 74 Gallons A Day
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This is a stronger statement than Facebook official David Marcus made in July , when he said Facebook will not offer Libra until it has “fully addressed regulatory concerns and received appropriate approvals.” Marcus leads the Libra project at Facebook.READ MORE: Update: One Killed, Two Injured When Truck Crashes Into Diners at San Jose Sports Bar
Zuckerberg is trying to defend Libra and alleviate concerns that the currency could sidestep financial regulators.COVID: San Francisco Restaurants Prepare For Full Reopening; 'We Will Not Be The Vaccine Police'
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