Facebook would quit Libra, if the project is not backed by US regulators, said Marc Zuckerberg in a hearing of the House Financial Services Committee on Wednesday.
When a congressman asked Facebook CEO and founder what will happen if the Libra Association decided to launch the proposed cryptocurrency without the US regulators’ approval, Zuckerberg said that the company would pull out of the association.
Similarly, Zuckerberg committed to preventing anonymous use of the Calibra wallet, the Facebook subsidiary developing a wallet for Libra, as congressmen expressed concerns that anonymous wallets may be a new loophole for criminals looking to hide money.
When a congressman asked Facebook CEO and founder what will happen if the Libra Association decided to launch the proposed cryptocurrency without the US regulators’ approval, Zuckerberg said that the company would pull out of the association.
Similarly, Zuckerberg committed to preventing anonymous use of the Calibra wallet, the Facebook subsidiary developing a wallet for Libra, as congressmen expressed concerns that anonymous wallets may be a new loophole for criminals looking to hide money.
