The U.S. House has scheduled its hearing for Facebook's Libra; David Marcus reportedly set to attend

Just one day after the Senate Banking Committee is scheduled to discuss Facebook’s Libra, the House will follow-up. U.S. Rep. Maxine Waters, Chair of the U.S. House Financial Services Committee, announced her committee will hold its hearing on July 17.

The set date comes after Waters called for a moratorium on Libra’s development until further U.S. regulation could be fleshed out. Her statement called for Facebook executives to testify on the plans.

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While Libra is operated by the separate Libra Association, which Facebook only holds 1% stake in, the same as all other nodes, Facebook execs will likely be asked to answer for Libra’s planned activities.

As of now, no witnesses have been announced for the hearing, but sources told The Hill that David Marcus, co-creator and leader of Libra, will likely testify at both the House and the Senate’s hearings.

The Senate hearing is scheduled for July 16 and can be streamed on the Senate’s site.

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.

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