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The U.S. House Panel wants Facebook's Zuckerberg to testify to Weight by January



FILE PHOTO: Facebook Chief Mark Zuckerberg enters US Senator Josh Hawley's (R-MO) office while meeting with lawmakers to discuss "future Internet regulation on Capitol Hill in Washington, USA, September 1

9, 2019. REUTERS / Joshua Roberts / File Photo

WASHINGTON (Reuters) – Facebook Inc Chief Operating Officer Sheryl Sandberg has so far agreed to testify before a US House Committee Oct. 29 about the company's plan for a digital currency, but the panel will not schedule the hearing until CEO Mark Zuckerberg pledges to emerge by January, a congressional source said Thursday.

The House of Representatives Financial Services, which is seeking testimony from Facebook executives, did not immediately respond to a request for comment. Facebook's news site Information Technology.

Facebook shocked regulators and lawmakers with the announcement in June that it was hoping for to launch a digital coin called Libra in 2020.

Politicians and economic watchdogs at home and abroad are concerned about the effect of widespread adoption of Libra by the social media company's 2.38 billion users on the global economic system.

"Facebook's plans give serious consideration to privacy, commerce, national security and monetary policy, not only for Facebook's over 2 billion users, who want immediate access to these products, but also for consumers, investors and the global economy," the House Committee leadership committee Maxine Waters said during a hearing on Libra in July.

Waters has urged Facebook to halt the implementation of cryptocurrency until regulators and Congress can introduce a legal framework.

Reporting by Pete Schroeder; Writing by Eric Beech; Editing by Peter Cooney

Our Standards: Thomson Reuters Trust Principles.

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