The Latest on congressional hearings on the reach of big tech (all times local):12:40 p.m.Facebook is moving forward on an ambitious plan for a new digital currency and won't commit to U.S. lawmakers' requests that it start small. Facebook executive David Marcus, who's leading the Libra currency project, tried to dodge a question Wednesday during a hearing of the House Financial Services Committee. Maloney says if Facebook can't commit to a pilot test, "Congress should seriously consider stopping this project from moving forward." Wednesday's House hearing follows a testy Senate banking hearing Tuesday on Facebook's currency proposal. Earlier in the day, Facebook faced bipartisan concern from a Senate committee examining its big plan to create its own digital currency.

Source: ABC News July 17, 2019 16:41 UTC