Mark Zuckerberg to tell Congress Facebook is 'not the ideal messenger' for Libra project

• Zuckerberg plans to tell lawmakers he supports delaying Libra's launch, currently set for mid-2020.
• The Libra digital currency is intended to facilitate money transfers, not to compete with sovereign currencies or impact monetary policy.

WASHINGTON: Facebook chief executive Mark Zuckerberg plans to acknowledge before Congress that Facebook is not the "ideal messenger" for its Libra cryptocurrency project, given ongoing criticism of the company.

In prepared testimony, Zuckerberg plans to tell lawmakers he supports delaying Libra's launch, currently set for mid-2020, until US regulatory concerns are fully addressed.

And he will add that the Libra digital currency is intended to facilitate money transfers, not to compete with sovereign currencies or impact monetary policy.