Zuckerberg: Supporting the postponement of Libra, not intended to compete with sovereign currencies

According to testimony prepared by Facebook CEO Zuckerberg for the congressional hearing, Zuckerberg will admit that Facebook is not the "ideal messenger" of Libra, its cryptocurrency project, given its continued criticism. He supported the postponement of the release of Libra (currently scheduled for mid-2020) until the regulatory issues in the United States were fully resolved. He added that Libra aims to promote remittances rather than competing with sovereign currencies or affecting monetary policy.