Comments from Facebook's Marcus on Libra
- Libra will not be offered until regulatory concerns and approvals are fully addressed
- If US doesn't lead in digital innovation others will
- Libra has no intention of competing with sovereign currencies
- Libra decisions will be democratic and transparent among association members
- Libra members will be required to compy with anti-money laundering and bank secrecy act rules
- Customer information will not be shared with Facebook, cannot be used for ad targeting
- Facebook likely to realize greater advertising revenue after launch as users increasingly use Facebook as payment platform
The comments are from prepared remarks from David Marcus, who will speak to Senators at a hearing tomorrow.
