Facebook CEO Mark Zuckerberg fielded questions from the U.S. House of Representatives Financial Services Committee on the tech company’s Libra cryptocurrency project, Reuters reports. Lawmakers questioned whether Facebook should provide financial services due to its past data privacy issues. “It would be beneficial for all if Facebook concentrates on addressing its many existing deficiencies and failures before proceeding any further on the Libra project,” Rep. Maxine Waters, D-Calif., said. Zuckerberg said Libra is a “risky project” and may not work, however, he added Facebook will insist on U.S. regulatory approval before it moves forward and that the tech company has “work to do to build trust.”
Full Story