October 22, 2019 / 5:00 PM / 22 days ago

Mark Zuckerberg to tell Congress Facebook is 'not the ideal messenger' for Libra project

WASHINGTON, Oct 22 (Reuters) - Facebook chief executive Mark Zuckerberg plans to acknowledge before Congress that Facebook is not the "ideal messenger" for its Libra cryptocurrency project, given ongoing criticism of the company.

In prepared testimony, Zuckerberg plans to tell lawmakers he supports delaying Libra's launch, currently set for mid-2020, until U.S. regulatory concerns are fully addressed. And he will add that the Libra digital currency is intended to facilitate money transfers, not to compete with sovereign currencies or impact monetary policy. (Reporting by Pete Schroeder Editing by Chizu Nomiyama)

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