Press Releases

· “[Mark Zuckerberg] got fire from the right and left on political ads and fact checking and how that operates. The real purpose of the hearing was [to ask] should Facebook start a cryptocurrency for its two billion users around the world called Libra? Does that comply with U.S. federal regulatory policy?”

· “The vision [of Libra] is a great vision. David Marcus and Mark Zuckerberg have said, wouldn't it be a game changer if you could send money as easily as you could send a text? The vision is a good one. The question is how can it be done in the right way and be fully in compliance with anti-money laundering laws and the Banking Secrecy Act and open it up so it's not another monopoly product?”

On Thursday, Congressman Hill joined MSNBC's Morning Joe to discuss the fallout of Zuckerberg's appearance before the House Financial Services Committee including his response to questions on data privacy. Click HERE or on the picture below to watch his interview. 


· "I asked Mark Zuckerberg yesterday about privacy. I believe in a future digital world where we have digital commerce and where we own our data. That we give our data to people for a specific purpose, a health purpose, a financial services purpose. George Gilder has written a great book about this called Life After Google, because it's not just social media, it applies to the internet service providers and [Zuckerberg] did not really answer my question. He dodged that question about your right to control your data as your private data that you then can allocate to people for a specific purpose.”

· “[Zuckerberg] made a commitment yesterday, which I thought was good. He made it after the G7 meeting last week, and to America yesterday, that Facebook would not participate in Libra until it had the full regulatory approval of the United States and he would not implement it anywhere. He answered a question from my friend [Congressman] Bill Huizenga in fact [saying] if we don't approve [Libra] then I guess we might have to pull out of Libra, which I don't think is their intent.”


Background:

Congressman Hill serves as the Ranking Member on the House Financial Services Subcommittee on National Security, International Development, and Monetary Policy. He previously served as Ranking Member of the House Financial Services Committee Task Force on FinTech and the House Financial Services Committee Task Force on Artificial Intelligence.