In the News
Facebook CEO Mark Zuckerberg faces a tough test Wednesday as he testifies publicly before a House panel on Libra, his company's controversial effort to launch a global cryptocurrency.
Zuckerberg's testimony, which will be his first before Congress since the Cambridge Analytica scandal, comes at a crucial time for the project.
Draft legislation has been posted on the US House of Representatives, Financial Services Committee website that may designate "stablecoins" as securities.
Sponsored by Representative Sylvia Garcia, the ‘‘Stablecoins are Securities Act of 2019″ would mandate that stablecoins are investment contracts and thus are regulated under existing securities law. Stablecoins would then fall under the bailiwick of the US Securities and Exchange Commission (SEC).
United States Congress is considering a draft bill that claims all managed stablecoins must be seen as investment contracts and therefore as securities.
Ahead of Facebook Chief Mark Zuckerberg's appearance on Capitol Hill, Congresswoman Sylvia Garcia (D-TX) spoke with Cheddar about what to expect. Zuckerberg will discuss the future of Libra in both domestic and foreign markets, and will make his pitch in front of the House Financial Services Committee.
Facebook CEO Mark Zuckerberg plans to tell lawmakers that he understands Facebook is not the "ideal messenger" for its cryptocurrency project and he supports delaying Libra's launch until regulatory concerns are addressed.
Congress may consider a bill to classify stablecoins – cryptocurrencies whose values are pegged to a fiat currency or other assets – as securities.
A slew of policy changes this week at Facebook show how the social media giant can act decisively on pressing public policy matters — when it chooses to.
But as CEO Mark Zuckerberg prepares to testify on Capitol Hill on Wednesday, the announcements also highlight some things Facebook is choosing not to do, such as insist on truth in political advertising run on its platform, that have become a source of growing concern to politicians and elected officials.
WASHINGTON — Warning that President Donald Trump could weaponize Immigration and Customs Enforcement to scare Latinos away from the polls, several Texas Democrats are pushing to bar immigration action around polling places on voting days.
Politicians in the Democratic and civil rights space have shared tributes on social media following the passing of Rep. Elijah Cummings.
Cummings died at the age of 68 on Thursday (Oct. 17) from "complications from longstanding health issues," his office told the Associated Press. Bipartisan through and through, Cummings served Maryland's 7th Congressional District from 1996 until his death.
Born and raised in Houston, Isabel Longoria, 31, once wore a cowboy hat to an eighth-grade dance at The Rice School. After that, the moniker "Texas," or sometimes just "Tex," followed her everywhere.
"There are still people today that call me that," laughs Longoria. A longtime campaigner, staffer, and self-described policy wonk, Longoria is making her first run for office this year by throwing her hat into Houston's City Council District H race.