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Crypto Facebook Policy

U.S. House Wants Zuckerberg to Testify by January

A key House committee has invited Facebook Chief Operating Officer Sheryl Sandberg to testify on Oct. 29 about the company’s plan to roll out a global cryptocurrency, but only on the condition that CEO Mark Zuckerberg agree to appear before the committee before January. The proposed terms haven’t been reported previously.

In addition to questioning Sandberg about Libra, Facebook’s proposed digital currency, the committee is also expected to question her about the company’s advertising practices, according to a person familiar with the matter. In March, Facebook reached a settlement with civil rights groups over allegations that its advertising practices facilitated discrimination in the housing market. 

House Financial Services Committee Chairwoman Maxine Waters has been one of Libra’s harshest critics, calling on Facebook to stop work on the digital currency until the company can provide more clarity about its plans.

Sandberg would be the second Facebook executive to testify before the committee. In July, Libra co-creator David Marcus appeared before both House and Senate panels. 

Correction: Facebook’s Libra co-creator is David Marcus. An earlier version of this article incorrectly stated his first name.


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