Facebook CEO Mark Zuckerberg said in an interview on CNN Wednesday night that he would be willing to testify in front of Congress and is open to regulation in light of Facebook Inc.'s (FB) most recent data breach scandal. 

Earlier in the day, in a Facebook post published shortly before the market closed, Zuckerberg addressed the scandal, and laid out a timeline of the events leading up to and following the breach.

Zuckerberg finally talked about the company's growing data issue after reports surfaced that Facebook allowed political data analytics firm Cambridge Analytica LLC to harvest the data of more than 50 million users without proper disclosures or permissions.

During the CNN interview -- a rare on-camera appearance with Laurie Segal on Anderson Cooper 360 -- Zuckerberg told Segal that he would be willing to testify before lawmakers if it were a scenario in which he has the most knowledge on a topic, or would be better suited than another employee.

"I'm happy to, if it's the right thing to do," Zuckerberg said.

When asked why Facebook is not regulated, given the high stakes related to data privacy and potential influence on politics by bad actors, Zuckerberg responded, "I'm not sure we shouldn't be regulated." He said the question should not be whether or not these companies should be regulated, but what the right regulation is.

Earlier this week, the social media giant's stock plummeted, legislators have called for answers, and users and investors have filed lawsuits based on the events surrounding the data breach.

Facebook shares closed up 0.7% at $169.39 in regular trade Wednesday, following two days of sharp declines. In after-hours trading Wednesday night, shares were up 0.12%.

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