House panel to hold hearing on Facebook's Libra cryptocurrency

The House Financial Services Committee plans to hold a hearing on July 17 on Facebook Inc.'s Libra cryptocurrency, according to an announcement Monday from the committee's chairwoman, Rep. Maxine Waters. The California Democrat said earlier this month that she wants Facebook to suspend plans for its crypto offering until Congress and regulators are able to study it more closely. The Senate Banking Committee is due to hold a hearing on Libra on July 16. Waters also said her committee will hold a hearing on July 10 on monetary policy, as well as a hearing on July 24 on the merger of SunTrust Banks Inc. and BB&T Corp.

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