Facebook
Will Leave Libra Association if Regulatory Approval Cannot Be Attained
Testifying before the U.S.
House Financial Services Committee on Wednesday, Facebook chairman and chief
executive Mark Zuckerberg said his company is willing to quit the Libra
Association if it does not foresee its Libra stablecoin initiative receiving
U.S. regulatory approval.
"If I feel like Facebook
can't be a part of it, then Facebook won't be a part of it," Zuckerberg
stated during the roughly six-hour-long congressional hearing. Noteworthily,
he shared his belief that the Geneva-domiciled Libra Association would be
able to proceed with its project without his social media giant’s
involvement.
