Zuckerberg: Facebook 'would be forced to leave' the Libra Association if it moves forward before regulators approve

. Facebook is joined by 20 other members in the Libra Association, which will govern the currency.

Given Facebook's insistence that Libra is separate from its company, lawmakers wanted to know how Facebook would make good on its promise to wait for U.S. regulatory approval. Zuckerberg said if the Libra Association voted to move forward without the clearances Facebook feels it needs, "we would be forced to leave the organization."

Earlier in the hearing, Rep. Nydia Velazquez, D-N.Y., asked if Zuckerberg would also wait for Congress to provide an updated legal framework for regulators who will decide whether the approve the project. Zuckerberg said he thinks Congress has an appropriate oversight role over regulators already, which Velazquez said she takes as a "no."

However, Facebook is still funding the Libra Association, Zuckerberg said in his testimony. The members have not paid their $10 million fees yet, and Zuckerberg said that figure could change.

SavetheChildren Follow the current events regarding my legal actions against WINDSORS, POLITICANS (TRUDEAU, MERKEL, OBAMA, PUTIN … and famous CEOs (GATES, BEZOS, ZUCKERBERG, MUSK, BRANSON …) and COMPANYS

Gog et Magog : l'âge se fleurit à partir de 40 ans ; la Politique, c'est le dernier des métiers alors que Gog et Magog favorisent par leur propagande la jeunesse. التشبيب

Wut? If libra is independent from fb so why zuckerberg going hearing for this Almost like investor going hearing for an investment which you invested in.

Yea I am sure 😂! They founded the group and they will leave it, and what will the rest do with zero user base of theirs?

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What Mark Zuckerberg’s Cryptocurrency Testimony Shows About Facebook’s Libra StrategyAn analysis of Facebook CEO Mark Zuckerberg's planned testimony before congress on the libra cryptocurrency. Trust is important to keep in mind when it comes to Libra -only 5% of US adult consumers indicated interest in the proposed digital currency following the announcement of its launch: DelRayMan The plan of Facebook is to take currency system away from nations.
Source: Forbes - 🏆 394. / 53 Read more »

Lawmakers wanted to hear from the person in charge of Facebook's cryptocurrency project, but they won't get that from Zuckerberg on WednesdayFacebook CEO Mark Zuckerberg will face the House Financial Services Committee Wednesday to discuss the company's cryptocurrency plans. *🐉 My Facebook account has been hacked to get lost or cut using it 3 times. If I opened for the very last time will be with a last picture of finalmatters living invisalia.trying to put my haircut like a wrong ideA
Source: CNBC - 🏆 12. / 72 Read more »

Zuckerberg testimony begins: 'I actually don't know if libra is going to work'“If America doesn’t innovate, our financial leadership is not guaranteed.” Mark Zuckerberg says that he doesn’t know if Facebook’s libra cryptocurrency will work, but that he thinks it is important to try. This guy always looks to me like a little boy who is trying to act like a man. DeleteFacebook Not to turn away from the topic at hand, but is Zuckerberg's hair cut the worst ever? Ever?
Source: CNBC - 🏆 12. / 72 Read more »