Zuckerberg Testifies on Facebook’s Libra Cryptocurrency
Facebook CEO Mark Zuckerberg testified before the House Financial Services Committee on Wednesday, October 23, 2019, to discuss the company’s Libra cryptocurrency project.
Key Points of Zuckerberg’s Testimony:
* Libra’s Goals: Zuckerberg stated that Libra aims to create a “stable, low-cost, and high-volume digital currency” that can be used by people around the world.
* Regulatory Oversight: Zuckerberg acknowledged the importance of ensuring that Libra is regulated and supervised by governments. He said that Facebook is willing to work with regulators to address concerns.
* Scaling Capacity: Zuckerberg emphasized that Libra has the potential to handle the scale of payments required for a global currency. He said that the digital wallet, Calibra, will be able to process 1,000 transactions per second.
* Economic Impact: Zuckerberg argued that Libra could have a positive economic impact, particularly in developing countries where access to financial services is limited.
* Privacy Concerns: Zuckerberg acknowledged concerns about user privacy. He said that Facebook will not use Libra data to track users or target them with ads.
Committee Members’ Questions and Concerns:
Committee members raised various questions and expressed concerns, including:
* Systemic Risk: Lawmakers questioned whether Libra could pose systemic risks to the financial system if it becomes widely adopted.
* Money Laundering and Illicit Transactions: Members expressed concerns about the potential for Libra to be used for money laundering or other illicit activities.
* Competition: Some lawmakers questioned whether Libra could give Facebook an unfair advantage over competitors in the financial industry.
Next Steps:
The House Financial Services Committee is expected to continue its investigation into Libra. The committee could potentially call for additional hearings or issue a report on its findings. Facebook and other members of the Libra Association are expected to continue working with regulators to address concerns and ensure that the project meets regulatory requirements.
Market Reaction:
Following Zuckerberg’s testimony, the bitcoin price initially rallied, but later fell as the market digested the news. The bitcoin price has been volatile throughout 2019, influenced by a combination of regulatory developments, geopolitical events, and investor sentiment.
原创文章，作者：Kevin，如若转载，请注明出处：https://feifeihe.com/743.html
