This article comes fromCNBC, original author: Pete Schroeder, Katie Paul

Odaily Translator |

Odaily Translator |

The US Senate Banking Committee is scheduled to hold a hearing on July 16 to review Facebook's new cryptocurrency Libra. The committee said Wednesday that the hearing will explore Libra and any data privacy concerns the project may raise.

A spokesman for the Senate Banking Committee said no names had been announced for the hearing. But David Marcus, the head of the Libra project, is expected to attend, according to people familiar with the matter. According to Odaily's inquiry, as of the time of publication, there is no definite news on whether Zuckerberg will attend.

Earlier, Maxine Waters, chair of the U.S. House of Representatives Banking Committee and U.S. Congresswoman, said in a statement that Facebook should halt development of the Libra network until a hearing is held. It believes that there is currently no clear regulatory framework for cryptocurrencies to provide strong protection for investors, consumers and the economy.

In May, the leaders of the Senate Banking Committee wrote to Facebook asking about rumors about its cryptocurrency project and trying to understand how the project would protect consumer information.

On Tuesday, a Facebook representative responded to various regulatory voices and said the company looked forward to answering questions from lawmakers. The company did not respond to a request for comment about the July 16 hearing.

Facebook hopes to launch Libra in the first half of 2020. The company hopes to facilitate transactions between sophisticated consumers and global businesses through the Libra project, in addition to providing financial services to unbanked consumers for the first time.