“I actually don’t know if libra is going to work,” Mr. Zuckerberg said during the roughly six-hour hearing. ‘It’s a risky project and there’s been a lot of scrutiny,’ Mr. Zuckerberg said during the hearing. He responded that Congress already has oversight of the regulators Facebook is working with and that he thought that was sufficient. It wasn’t clear which regulators Mr. Zuckerberg was referring to. asked Mr. Zuckerberg why those large U.S. financial firms had dropped out of the project.

Source: Wall Street Journal October 23, 2019 17:39 UTC