Skip to main content

Facebook (FB) - Get Meta Platforms Inc. Class A Report CEO Mark Zuckerberg will be the sole witness to testify at a House Financial Services Committee hearing on the company's Libra cryptocurrency on Oct. 23, the committee announced Wednesday.

The hearing titled, "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors," relates to Facebook's proposed cryptocurrency, Libra, and digital wallet, Calibra.

In July, Chairwoman Maxine Waters and other committee Democrats sent a letter to Facebook requesting an immediate moratorium on the company's plans for the digital services, according to a statement Wednesday from the committee.

House members had been pushing for Zuckerberg to discuss Facebook's cryptocurrency plans, CNBC reported, saying the committee had been in talks with Facebook Chief Operating Officer Sheryl Sandberg about testifying.

Scroll to Continue

TheStreet Recommends

Facebook is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells FB? Learn more now.