U.S. Congress grills Mark Zuckerberg on Facebook’s Libra, privacy, elections, and more.

Image Credit: REUTERS/Erin Scott

(Reuters) — Facebook CEO Mark Zuckerberg conceded on Wednesday that the company’s planned digital currency Libra was a “risky project,” but sought to reassure skeptical U.S. lawmakers that it could lower the cost of electronic payments and open up the global financial system to more people.

Sporting a suit and tie, Zuckerberg also fended off aggressive questions on election interference, free speech, hate groups, and fake news from members of the U.S. House of Representatives Financial Services Committee.

Representative Maxine Waters, the panel’s fiery Democratic chair, quizzed Zuckerberg on Facebook’s steps to combat misinformation and voter suppression ahead of the November 2020 U.S. presidential election. She also suggested policymakers should consider breaking up Facebook.



By Reuters.
Full story at Venture Beat.