David Marcus Tells Congress That Libra Will Cooperate
The head of Calibra at Facebook, David Marcus, has written to Chairwoman Maxine Waters and members of the House Financial Services Committee in preparation for the upcoming Libra hearings, according to The Hill.
According to the report, Marcus wrote, “I want to give you my personal assurance that we are committed to taking the time to do this right.”
The issue began in June, when Waters wrote a statement expressing her concerns for Facebook to cease work on Libra. She said:
“Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action.”
Waters and the House of Representatives Committee on Financial Services also requested that Facebook and its partners impose an official moratorium on Libra development.
The House Financial Services Committee will hear Facebook’s testimony regarding Libra on July 17th. In addition to being the head of the Calibra wallet, LinkedIn also lists David Marcus as the co-creator of Libra.