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Zuckerberg: Facebook Would Quit Libra if Association Launched Prematurely

WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory approvals. In a hearing of the House Financial Services Committee Wednesday, Zuckerberg fielded pointed questions on a variety of controversial issues around the social […]Read More

Updating Live: Zuckerberg Hearings Before Congress on Libra

Disclaimer: This article will be updating live for the duration of the Oct. 23 hearing. Please check in for the latest from the hearing. In Advance: In a much-anticipated meeting of politics and tech, Facebook CEO Mark Zuckerberg has finally made his way to United States regulators. He will be testifying before the House Financial […]Read More

How to Watch Mark Zuckerberg’s Grilling in Congress Today

Facebook CEO and founder Mark Zuckerberg will be facing a grilling from lawmakers in Congress at 14:00 UTC (10 a.m. local time) today. In his testimony before the House of Representatives Financial Services Committee, Zuckerberg has already revealed he will addressing the Libra cryptocurrency project and other issues facing the social media giant more widely. However, […]Read More

Libra US Congressional Hearing — Recap Before Zuckerberg Faces Senate

Today, Oct. 23, Facebook CEO Mark Zuckerberg will testify before the United States House of Representatives Financial Services Committee regarding Libra — the company’s stablecoin project that has been facing major regulatory backlash since the day it was announced.  While Libra was previously represented in front of the U.S. lawmakers by the head of the […]Read More

US Treasury to Monitor Libra Over Possible Financial Risks

The U.S. Department of the Treasury has committed to monitoring the Facebook-led cryptocurrency project Libra. The news was announced by Emanuel Cleaver, II, congressman for Missouri’s fifth district, on Tuesday. Cleaver said he’d written to the Financial Stability Oversight Council (FSOC), and the Office of Financial Research (OFR) in August calling on the regulators to “proactively examine […]Read More

Facebook Libra is walking a tightrope—what else is new?

Occupying the majority of regulators’ time in countries around the world, Facebook’s Libra stablecoin doesn’t appear to be getting any closer to finding a viable solution. Facebook CEO Mark Zuckerberg is desperately trying to convince lawmakers that Libra has merit, while the company is looking at the possible end to banking relationships if it decides […]Read More

None of 20 Facebook’s Libra Partners Yet Committed Any Money:

None of the 21 founding members of the Libra Association, except Facebook, have yet committed any money to support Libra, according to the BBC. $10 million investment initially required Since the announcement of the Libra Association Council in June 2019, no financial agreement for the founding partners has been made to date, BBC reports Oct. […]Read More

Regulate Stablecoins – Don’t Squash Them

Nathan Kaiser is a founder of Eiger Law and a fellow at the Berkman Klein Center for Internet & Society at Harvard University. He has two decades of professional experience in Greater China focusing on corporate law and the convergence between technology and law. The views expressed here are his own. Recent developments with blockchain-based payments […]Read More

What to Expect When Facebook’s Zuckerberg Defends Libra on Capitol

Once again, Facebook will face the fire on Capitol Hill on Wednesday, with the Libra cryptocurrency project taking center stage. Mark Zuckerberg, the social media giant’s founder and CEO, will testify before the House of Representatives Financial Services Committee, arguing that Libra will benefit unbanked individuals and that the U.S. should allow Libra to launch. […]Read More

US Congress Considers A Draft Bill Claiming Stablecoins Are Securities

United States Congress is considering a draft bill that claims all managed stablecoins must be seen as investment contracts and therefore as securities. Libra in the United States The U.S. Representative for Texas’s 29th congressional district, Sylvia Garcia, introduced a draft bill to the House Financial Services Committee on Oct. 18. The draft bill, called […]Read More