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10/9, 6:06 PM (Source: TeleTrader)
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Zuckerberg to testify before US Congress on Libra

Mark Zuckerberg (pictured), chief executive of Facebook Inc., will testify before the United States House Financial Services Committee on October 23, the panel announced on Wednesday.

Zuckerberg will be the only witness at the hearing named "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors" and is expected to answer questions on his company's cryptocurrency project Libra.

The regulatory reactions to Facebook's project have led to PayPal Inc.'s withdrawal from Libra development, with media reporting other companies were reconsidering their involvement.

Breaking the News / MD