Facebook Inc chief executive Mark Zuckerberg will be grilled by lawmakers over t...
) chief executive Mark Zuckerberg will be grilled by lawmakers over the company’s plan to launch a digital currency and efforts to prevent foreign election interference when he appears before a Congressional panel on Wednesday.
That political heat has led several of its key financial partners including Mastercard, Visa, PayPal and eBay to abandon the project. The company disclosed on Monday it had removed a network of Russian accounts targeting U.S. voters on Instagram, which Facebook owns. That scandal badly damaged Facebook’s image in Washington and has compounded worries among lawmakers that the social media giant cannot be trusted to launch a global digital currency to its 2.4 billion users.
The hearing will be led by Democratic Representative Maxine Waters, the panel’s fiery chair who has slammed the Libra project. He told reporters last week that Zuckerberg will be unable on Wednesday to make commitments on behalf of Libra because Facebook no longer controls the project.
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