Libra Hearing | David Marcus: Preventing Libra from being used by drug dealer groups through KYC

Beijing time today (July 16) at 22:00, the US Senate Banking Committee and the House Financial Services Committee held a hearing on the Facebook Libra project. The hearing was from David A. Marcus, the head of the Facebook Calibra team. Some Members have asked that everyone’s distrust of Facebook has existed for a long time. There are too many black history. How do you reverse it? Marcus said that 1. Facebook is now very concerned about privacy issues; 2. For Libra, Facebook does not control Libra. Some Members asked how to deal with fraud. Who is responsible? Marcus is still vaguely replied, saying that the Libra Association is not responsible for fraud and will only control the content posted on Libra, but will strengthen education. Members are not satisfied with the answer. Subsequently, the member raised the issue to national security, and the drug dealer group may use Libra. How to prevent it? Marcus said that Libra users are not anonymous through KYC.