Embedded below is David Marcus’s prepared testimony for the Senate Banking Committee hearing on Facebook’s Libra.
“Facebook will not offer the Libra digital currency until we have fully addressed regulatory concerns and received appropriate approvals,” assured Marcus to the Senators in attendance.
His testimony today is another step in the huge uphill battle Facebook has in convincing US politicians, and the rest of the world, its ambitions have merit and will not replicate the company’s past transgressions.
If we do not lead in the area of payments and digital currencies – others will, warned Marcus.