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David Marcus, head of Calibra at Facebook, wrote a letter to President Maxine Waters and members of the House Financial Services Committee in anticipation of the Libra hearings, according to a July 9 report by The Hill.
According to the report, Marcus wrote: "I want to give you my personal guarantee that we are committed to taking the time to do it right."
In addition to being the portfolio manager Calibra, LinkedIn has named David Marcus as co-creator of Libra.
Marcus' letter is only the latest in a long demonstration between Congress and Facebook since the publication by the latter of the white paper on Libra, his next currency. This back and forth began in mid-June, when Waters wrote a statement in which she expressed her concerns and her desire to see Facebook stop working on Libra, in these terms:
"Given the troubled past of the company, I ask Facebook to accept a moratorium on any breakthrough in the development of a cryptocurrency until Congress and regulators have the opportunity to consider these issues and to act. "
Waters and the Financial Services Committee of the House of Representatives have also asked Facebook and its partners to impose an official moratorium on the development of Libra.
On July 2, a group of pressure groups submitted a letter containing their own questions, as well as a request for a moratorium on the development of Libra.
Marcus posted on Facebook on July 3 to address these concerns and to point out that Facebook would play a limited role in managing the Cryptocurrency Balance, such as Stablecoin's, among the hundred or so expected members of the Libra Association.
As previously reported by Cointelegraph, the House Financial Services Committee will hear Facebook's testimony regarding Libra on July 17th. It is rumored that David Marcus would testify at this hearing, as well as at the hearing of the Senate Committee on Banks and Banks held on July 16.
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