The United States Senate Banking Committee has released the opening statements of David Marcus, head of Facebook’s crypto wallet Calibra. Marcus made his comments to lawmakers today, July 15, ahead of a hearing on the Libra cryptocurrency project tomorrow in the Senate.
In his testimony, Marcus raised the issue of Facebook’s upcoming stablecoin Libra and its associated digital wallet Calibra, which have previously drawn criticism from both community members, lawmakers and leading industry players. Specifically, Marcus delivered comments on the structure and management of Libra and Calibra and their implications for commerce and consumers.