. Facebook is joined by 20 other members in the Libra Association, which will govern the currency.
Given Facebook's insistence that Libra is separate from its company, lawmakers wanted to know how Facebook would make good on its promise to wait for U.S. regulatory approval. Zuckerberg said if the Libra Association voted to move forward without the clearances Facebook feels it needs, "we would be forced to leave the organization."
Earlier in the hearing, Rep. Nydia Velazquez, D-N.Y., asked if Zuckerberg would also wait for Congress to provide an updated legal framework for regulators who will decide whether the approve the project. Zuckerberg said he thinks Congress has an appropriate oversight role over regulators already, which Velazquez said she takes as a "no."
However, Facebook is still funding the Libra Association, Zuckerberg said in his testimony. The members have not paid their $10 million fees yet, and Zuckerberg said that figure could change.
Source: Digital Coin News (digitalcoinnews.net)
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Wut? If libra is independent from fb so why zuckerberg going hearing for this Almost like investor going hearing for an investment which you invested in.
Yea I am sure 😂! They founded the group and they will leave it, and what will the rest do with zero user base of theirs?
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