{"id":83413,"date":"2019-10-23T10:20:31","date_gmt":"2019-10-23T09:20:31","guid":{"rendered":"http:\/\/newsforher.com\/?p=83413"},"modified":"2019-10-23T10:20:32","modified_gmt":"2019-10-23T09:20:32","slug":"mark-zuckerbergs-defense-of-libra-its-all-about-china","status":"publish","type":"post","link":"https:\/\/newsforher.com\/?p=83413","title":{"rendered":"Mark Zuckerberg&#039;s defense of Libra: It&#039;s all about China"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"c5b541d88d911dcbb84397def1a3492d\" data-index=\"1\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- m -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3943282228430444\"\r\n     data-ad-slot=\"5751019935\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p> [ad_1]\n<\/p>\n<div id=\"id_text\" itemprop=\"articleBody\">\n<p>Mark Zuckerberg is once again raising the threat posed by China as he looks to defend his company to lawmakers.\u00a0<\/p>\n<p>The Facebook CEO will appear before the House Financial Services Committee on Wednesday to answer questions about the company&#8217;s plans for Libra, its cryptocurrency project that has drawn scrutiny from lawmakers and banking officials around the world.<\/p>\n<p>In <a href=\"https:\/\/docs.house.gov\/meetings\/BA\/BA00\/20191023\/110136\/HHRG-116-BA00-Wstate-ZuckerbergM-20191023.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">prepared remarks<\/a> released ahead of his testimony, Zuckerberg said he knows there&#8217;s a lot of distrust of Facebook.<\/p>\n<p>&#8220;I believe this is something that needs to get built, but I understand we\u2019re not the ideal messenger right now,&#8221; he said. &#8220;We\u2019ve faced a lot of issues over the past few years, and I\u2019m sure people wish it was anyone but Facebook putting this idea forward.&#8221;<\/p>\n<p>He then quickly pivots to what has become one of his preferred talking points when faced with questions about regulation: China.<\/p>\n<p>&#8220;But I also hope we can talk about the risks of not innovating,&#8221; Zuckerberg writes. &#8220;While we debate these issues, the rest of the world isn\u2019t waiting. China is moving quickly to launch similar ideas in the coming months. Libra will be backed mostly by dollars and I believe it will extend America\u2019s financial leadership as well as our democratic values and oversight around the world. If America doesn\u2019t innovate, our financial leadership is not guaranteed.&#8221;<\/p>\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"c5b541d88d911dcbb84397def1a3492d\" data-index=\"2\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- 2 -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3943282228430444\"\r\n     data-ad-slot=\"5511153269\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n\n<p>In other words: if Facebook doesn&#8217;t do this, then China will.\u00a0<\/p>\n<p>If that sounds like a familiar warning, that&#8217;s because it&#8217;s one Zuckerberg has made several times before. He has raised China in previous Congressional appearances, and just last week the CEO <a href=\"https:\/\/me.mashable.com\/tech\/7525\/mark-zuckerberg-says-the-real-threat-is-tiktok-and-china\" target=\"_blank\" rel=\"noopener\">criticized TikTok<\/a> for censorship and said China &#8220;is now exporting their vision of the internet to other countries.&#8221;\u00a0<\/p>\n<p>Zuckerberg is hoping to defend Libra, which has already gotten off to a rocky start. Lawmakers from both parties in <a href=\"https:\/\/mashable.com\/article\/facebook-libra-hearing-congress-day-two\/\" target=\"_blank\" rel=\"noopener\">the House<\/a> and <a href=\"https:\/\/mashable.com\/article\/facebook-libra-hearing-congress\/\" target=\"_blank\" rel=\"noopener\">the Senate<\/a> panned the idea, saying they don&#8217;t trust Facebook. And earlier this month, Facebook <a href=\"https:\/\/me.mashable.com\/tech\/7431\/support-for-facebooks-cryptocurrency-is-already-falling-apart\" target=\"_blank\" rel=\"noopener\">lost support<\/a> from some of its highest-profile outside backers, including PayPal, Visa, Mastercard, and Stripe.<\/p>\n<p>&#8220;If America doesn\u2019t lead on this, others will,&#8221; Zuckerberg writes. &#8220;Foreign companies or countries may act without the same regulatory oversight or commitment to transparency that we have. We\u2019re already seeing how companies with very different values are restricting people based on their beliefs. There\u2019s no guarantee that services which support democracy and fundamental rights around expression will win out.&#8221;<\/p>\n<\/div>\n\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"c5b541d88d911dcbb84397def1a3492d\" data-index=\"5\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- 5 -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3943282228430444\"\r\n     data-ad-slot=\"9258826580\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n[ad_2]\n<br \/><a href=\"https:\/\/me.mashable.com\/tech\/7607\/mark-zuckerbergs-defense-of-libra-its-all-about-china\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"c5b541d88d911dcbb84397def1a3492d\" data-index=\"3\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- 3 -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3943282228430444\"\r\n     data-ad-slot=\"2884989920\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] Mark Zuckerberg is once again raising the threat posed by China as he looks to defend his company to lawmakers.\u00a0 The Facebook CEO will appear before the House Financial Services Committee on Wednesday to answer questions about the company&#8217;s plans for Libra, its cryptocurrency project that has drawn scrutiny from lawmakers and banking officials &hellip;<\/p>\n","protected":false},"author":1,"featured_media":83414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[],"_links":{"self":[{"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/posts\/83413"}],"collection":[{"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsforher.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83413"}],"version-history":[{"count":1,"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/posts\/83413\/revisions"}],"predecessor-version":[{"id":83415,"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/posts\/83413\/revisions\/83415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsforher.com\/index.php?rest_route=\/wp\/v2\/media\/83414"}],"wp:attachment":[{"href":"https:\/\/newsforher.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsforher.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsforher.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}