Rep. Sylvia Garcia’s Statement on Mark Zuckerberg Agreeing to Testify Before the Financial Services Committee on Facebook’s Libra Project
WASHINGTON, DC — The Financial Services Committee has confirmed that Mark Zuckerberg, Facebook’s CEO, will be testifying before the committee on October 23rd, 2019. He will be there to answer questions about Facebook’s Libra Project. The Committee and many of its members have previously expressed concerns about the project and its proposed rollout. There are many unanswered questions regarding why Facebook is even developing a cryptocurrency, as well as how it will affect the global economy and consumers and how it will address associated security risks. Congresswoman Sylvia Garcia, a member of the Financial Services Committee, issued the following statement:
“I am pleased that Mark Zuckerberg has agreed to come before the Committee, frankly he is the person we needed to hear from in the first place,” said Congresswoman Garcia. “Many of my colleagues and I think it is critical that Mr. Zuckerberg address remaining concerns we have about Libra’s development. We must hear assurances that this will not be another tool to allow Facebook to abuse their market power and that it will not serve as another avenue for criminals and terrorist organizations to move and launder money. I am particularly concerned about the impact it could have in exposing low income communities.”
Congresswoman Sylvia R. Garcia was elected to the U.S. House of Representatives in November 2018, becoming the first Latina ever to represent Texas 29th Congressional district.