As we know, Libra’s digital currency is set to launch by next year. It has many critics, in addition to the fact that Facebook’s performance in privacy is not acceptable. Despite the presence of critics, Zuckerberg aims to win over US authorities. Mark Zuckerberg is meeting with US politicians to discuss regulatory issues like Facebook and Libra, such as privacy, and user security issues in Washington. As discussed in the September 19 Bloomberg report, these hearings will be reviewed by US lawmakers after a careful review of the Libra proposal and recent Facebook problems.
Intense government opposition to Libra
In a statement, Facebook spokesman Andy Stone said that Zuckerberg will talk to policy makers during his visit to the “Future Rules of the Internet”. At Facebook’s request, Democrat Senator Mark Warner and a member of the Senate Intelligence Committee have already helped arrange a dinner between Zuckerberg and other US senators this week, with participants also discussing various topics. Topics such as the role and responsibility of social media in protecting democracy, and what Congress is doing to defend the election, in addition to protecting users’ data and encouraging competition in the social media space, must be addressed.
The CEO also meets with Democratic Sen. Maria Cantoule of Washington, who is on the Senate Commerce Committee, while there is now conflict over the new privacy law. A meeting was also held with House Speaker Adam Schiff of California. However, sources have declined to provide detailed information about the meeting.
Libra faces resistance from every direction
Maxine Waters – The chairman of the House of Representatives’ Financial Services Committee had called in early June to stop work on Libra by the end of the month. He claimed that the technology giant did not have a clear model for protecting users’ information, which allowed Russian politics to influence US elections through targeted advertising on the network.
A number of US lawmakers continue to express concern about the project. Concern about allowing a large technology company to create a centralized alternative global currency. Earlier this month, French Finance Minister Bruno Le Mayer said France would not allow Libra to develop on European soil. He referred to Libra as US sovereignty, saying that the currency should be in the hands of the United States, not private companies that only care about private interests.