The U.S. House Financial Services Committee will host a hearing on Facebook’s libra cryptocurrency next month, one day after the Senate Banking Committee holds its previously announced hearing.
She told CNBC on Thursday that "It’s very important for them to stop right now what they’re doing so that we can get a handle on this," adding:
The Senate Banking Committee announced on Wednesday that it would hold its own hearing on July 16, intending to ask Facebook's team about the project.
The committee had already sent Facebook a letter last month outlining a number of questions revolving around Facebook's privacy and consumer data storage practices.
The social media giant intends to help 1.7 billion unbanked individuals access financial services, as well as streamline payments through its Messenger and WhatsApp platforms.
Facebook image via Shutterstock
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