Facebook's COO Sandberg in talks to testify about Libra before the house

Facebook's Chief Executive Sheryl Sandberg is in talks with the House Financial Services Committee to testify about Libra, Facebook's stablecoin.

Discussions on Market Power and Libra

According to a Bloomberg article of September 26, Facebook is now trying to get its CEO Sandberg in front of the House Financial Services Committee, perhaps as soon as next month.

Sandberg is expected to testify about the social media giant's global market power and plans to launch its stablecoin Libra in 2020, a source familiar with the talks told Bloomberg.

Sanberg's former witness before the Senate Intelligence Committee on Privacy, Security, and the U.S. Presidential Election-Related Error Information Campaigns on Facebook's Platform in 201[ads1]6.

Mr. Zuckerberg Goes to Washington

This testimony was followed by a visit by Facebook CEO Mark Zuckerberg in Washington, D.C., where he had dinner with a handful of US lawmakers, concerned about Facebook's proposed Libra stablecoin project.

Democratic Senator Mark R. Warner said Zuckerberg heard "consistent concerns about privacy, concerns about poor content and how it was handled."

Facebook still sat at 2020 Libra Launch

Last week David Marcus, head of Calibra on Facebook, signaled that a 2020 launch for Vågen is still the goal, despite regulators' pushback, by saying that the team behind Vågen would address all concerns about creating an appropriate regulatory environment.

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