If you want to watch Facebook Libra Testimony in Congress, then you are in the right place.
Facebook’s Libra is in controversies since it is been announced.
What to Watch for in Facebook Libra testimony in congress live
Zuckerberg’s defense starts with the company line on Libra so far, pitching the digital token as a tool for financial inclusion. With a stablecoin backed by a basket of currencies, the idea is to reduce the cost of sending money across borders to friends and family, and to provide a potentially useful tool for small businesses. The company has said Facebook-enabled mobile money will be a particular boon for the unbanked, both in the US and developing nations.
Doesn’t do it for you? Your cynicism is forgiven. Zuckerberg himself acknowledges that more people transacting on Facebook will help the company’s bottom line.
Perhaps you’ll respond to a more patriotic argument instead: “Libra will be backed mostly by dollars, and I believe it will extend America’s financial leadership as well as our democratic values and oversight around the world,” Zuckerberg says. Otherwise, he adds, China will take the lead on digital payments. Reference taken from : wired.com
Here is how you can watch it
- You can watch on the website of the House Financial Services Committee.
- Or watch Facebook Libra Testimony in Congress LIVE here :
Here is the YouTube link to the channel as well.
Expect some artful dodging. Facebook has sought to distance itself from the regulatory hubbub around Libra by putting most of the concerns—the banking regulations, the fears about money laundering—on the Libra Association, the nominally independent group that is to manage the cryptocurrency. Facebook, despite coming up with the idea for Libra and designing the system from scratch, is keen to note it is but one of the now-21 members launching the currency.
In Zuckerberg’s testimony, released Tuesday, he acknowledges it will be a lift to get the idea past regulators. “We’ve faced a lot of issues over the past few years, and I’m sure people wish it was anyone but Facebook putting this idea forward,” he says.