Chief executive of social networking Goliath, Menlo Park, CA-based Facebook Inc., Mark Zuckerberg would be testifying before a US House Financial Service Committee as early as by October 23rd over its planned digital currency Libra, which had already met with steep criticism from lawmakers across the globe, a Government document revealed on Wednesday, the 9th of October 2019.
On top of that, the Government document had also revealed that the US House Financial Committee would address other critical issues such as Facebook Inc.’s advertising policy. In point of fact, latest testimony of Facebook CEO in front of US Congress came forth at a perilous time for the social networking giant’s digital currency, Libra, as earlier this month US-based multinational payment processor, PayPal Holdings Inc.
had left Geneva-based Libra Association, an entity formed entirely to supervise the ins and outs of Facebook’s cryptocurrency project “Libra”. Besides, Zuckerberg would testify at the hearing titled as “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors,” while the latest testimony of Facebook head would be his first appearance before a US Congressional Committee since April 2018.
Meanwhile, late on Wednesday (October 8th), the social networking giant and owner of four out of top six leading internet service providers, Facebook Inc. had confirmed Zuckerberg’s presence at the October 23rd’s testimony before Congress.