Mark Zuckerberg is to meet US lawmakers over regulatory concerns

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Facebook CEO Mark Zuckerberg is to meet US lawmakers in Washington to discuss regulatory matters including customer privacy, competition stifling. The meeting is occurring after Facebook’s Libra faces intense criticism from both the United States and Europe.

The social media giant has been in the spotlight since its announcement of stablecoin project known as Libra. However, now the company is in Washington for a different reason altogether.

Zuckerberg is to meet US lawmakers for “future internet regulation”

According to Facebook spokesman Andy Stone, the company’s CEO is in Washington to discuss future internet regulation. Complying to the company’s request Senator Mark Warner has already assisted it in organizing a dinner between Zuckerberg and other U.S. Senators.

During the dinner, the participants exchanged views on various issues. The main topic of discussion was “the role of social media platforms in protecting our democracy” and what Congress needs to do to ensure fair elections, customer data security. Furthermore, Congress also needs to encourage healthy competition in every sector, including social media.

Zuckerberg will next meet Senator Maria Cantwell of the Washington State. Maria is a member of the Senate Commerce Committee that is currently discussing its latest privacy legislation.

Moreover, another meeting has been scheduled with California’s Adam Schiff. Adam is the House Intelligence Chairman of the state. Regardless, sources are unable to comment on the time or nature of the meeting.

Libra in danger

Meanwhile Libra finds itself in a hurdle as both Germany and France seem to be against its development. At the same time, US regulators have also raised concerns over the project. The main concern is that should a private company be allowed to establish an alternative global currency?

How things proceed remains to be seen, although it is safe to say that things won’t go smooth for Facebook.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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