Facebook CEO to Testify at House PanelAbout Libra

Facebook CEO Mark Zuckerberg testified before Congress last year. Photo: Andrew Harnik/Associated Press

Facebook Inc. Chief Executive Mark Zuckerberg is slated to return to Capitol Hill later this month to testify before a House panel about the company’s foray into cryptocurrency, just weeks after facing a chilly reception from lawmakers about his vision for internet regulation.

The House Financial Services Committee said Wednesday that Mr. Zuckerberg will be the sole witness at an Oct. 23 hearing that examines Facebook’s impact on the financial services and housing sectors.

The committee’s chairwoman, Rep. Maxine Waters (D, Calif.), and other Democrats have called on Facebook to abandon plans to implement the digital coin, known as Libra, and the digital wallet, Calibra.

Facebook executive David Marcus faced wide criticism in July during a Senate Banking Committee hearing about Libra and the potential privacy concerns the operation of the cryptocurrency could raise.

“Mark looks forward to testifying before the House Financial Services Committee and responding to lawmakers’ questions,” a Facebook spokesman said Wednesday in a statement.

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Facebook's plan to release its own currency, called Libra, has sparked a range of concerns among lawmakers. WSJ’s Paul Vigna explains. Photo: Andrew Harrer/Bloomberg News

Write to Bowdeya Tweh at [email protected]

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