The Latest: Facebook won't commit to starting small on Libra

ABC News | 7/17/2019 | Staff
DanRules394 (Posted by) Level 3
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The Latest on congressional hearings on the reach of big tech (all times local):

12:40 p.m.

Facebook - Plan - Currency - US - Lawmakers

Facebook is moving forward on an ambitious plan for a new digital currency and won't commit to U.S. lawmakers' requests that it start small.

Facebook executive David Marcus, who's leading the Libra currency project, tried to dodge a question Wednesday during a hearing of the House Financial Services Committee.

Marcus - New - York - Democratic - Rep

Marcus was asked by New York Democratic Rep. Carolyn Maloney if Facebook would commit to doing a small pilot program first to address numerous concerns from U.S. officials, both Democrats and Republicans.

Marcus says Facebook will launch the project responsibly and make sure there's "appropriate oversight."

Maloney - Facebook - Pilot - Test - Congress

Maloney says if Facebook can't commit to a pilot test, "Congress should...
(Excerpt) Read more at: ABC News
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