Bulletin
Investor Alert

Oct. 22, 2019, 1:40 p.m. EDT

Zuckerberg to tell Congress Facebook will delay Libra launch until U.S. regulators approve it

Facebook (NAS:FB) Chief Executive Mark Zuckerberg plans to tell lawmakers that the company won't be a part of launching its Libra digital currency anywhere in the world until U.S. regulators approve it. Zuckerberg is scheduled to appear Wednesday before the House Financial Services Committee, and also says in prepared testimony that U.S. financial leadership is at risk if companies aren't allowed to innovate. "The rest of the world isn't waiting. China is moving quickly to launch similar ideas in the coming months. 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," he will say.

Link to MarketWatch's Slice.