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Facebook’s David Marcus testifies before the House Financial Services

Facebook's David Marcus testifies before the House Financial Services

FINANCE NEWS

Facebook’s David Marcus testifies before the House Financial Services


David Marcus, the head of Facebook’s cryptocurrency project Libra, is set to testify before the House Financial Services Committee on Wednesday.

Marcus appeared on Tuesday in front of the Senate Committee on Banking, Housing and Urban Affairs, during which senators grilled him on Facebook’s plans for the digital currency.

Libra has already drawn scrutiny from lawmakers around the world. U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell both said they have ‘serious concerns’ about the potential for the digital currency to be misused by terrorists, in addition to money laundering and privacy risks.

Watch the livestream here at 10 a.m. Eastern.



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