AOC is crowdsourcing questions for Mark Zuckerberg on Twitter

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AOC is crowdsourcing questions for Mark Zuckerberg on Twitter

Earlier in the hearing under questioning from Rep. Sean Casten, D-Ill., the Facebook CEO was unable to confirm that hate speech from a candidate running for office would be removed from the social network.

Zuckerberg is due to answer questions from a House Financial Services Committee about Facebook's ambitions in financial services.

Libra has faced intense pushback from US and European regulators over concerns the virtual currency could be used to sidestep financial laws.

"Well, I believe you can get it Mr. Zuckerberg, but, one would assume that you would know who heads these corporations that are going to be running this global company". A new type of account built on blockchain.

Zuckerberg is expected to be asked about these items during his testimony.

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He said that it could be far simpler from a regulatory perspective but that "it may be less welcome in other places if it's only 100 percent based on the dollar".

The hearing brought out harsh criticism from lawmakers of Facebook's data practices and skepticism about Libra in particular.

"All of these problems I've outlined, and given the scope and the size and reach [Facebook has], it should be clear: while we have serious concerns about your plans to establish a global digital currency that will challenge the USA dollar ... we have also opened up a serious discussion about whether Facebook should be broken up", she said.

On Twitter, Waters ramped up her criticism of Facebook and pledged to block the digital currency plan.

"Breaking news: Mark Zuckerberg and Facebook just endorsed Donald Trump for re-election", reads the ad. "So we don't allow that", he said. "Not on my watch!" Marcus made a similar argument over the summer.

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"I have my qualms about Facebook and Libra. but if history has taught us anything it's better to be on the side of American innovation".

"Cryptocurrency either doesn't work... or it does achieve its objectives, perhaps, and displaces the United States dollar or interferes with the U.S. dollar being the sole reserve currency in the world", Rep. Brad Sherman (D-California) declared, singing the dollar's praises as he demanded of Zuckerberg how he would protect the American financial system and its users from drug dealers, terrorists, tax evaders... and his own business partners. Zuckerberg, momentarily at a loss for words, conceded: "It's a risky enterprise".

"For the richest man in the world to come here and hide behind the poorest people in the world, and say that's who you're really trying to help", he said.

If that happens, he said, "it would be very hard if not impossible for us to impose our sanctions or the kinds of protections" American policymakers would like to see.

"Facebook will not be a part of launching the Libra payments system anywhere in the world unless all US regulators approve it".

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Similarly, when lawmakers suggested that the "permissionless" system Facebook plans to create could encourage developers to build anonymous wallets-useful for money laundering-he vowed to ban them from the platform, while saying, again, that he couldn't speak for the other members of the Libra Association.

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