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.
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.