Of the many takeaways from Zuckerberg’s appearance on Capitol Hill yesterday, the one thing that stood out for me was a comment from Representative Tom Emmer who pointed out that a vast majority of the questions being asked were ill-prepared and/or unrelated.
“Congress is nowhere close to catching up with some of the most basic technologies affecting our time.”
Indeed, there were probably at least as many, if not more questions about Facebook’s community standards policy than there were about the Libra project.
Still, what seems to me is that Facebook’s strategy to highlight the difficulties of innovating in the United States, especially in the face of Chinese progress, has paid off handsomely. We do hope that Facebook is successful in its mission to bring regulatory clarity to crypto USA.
We’ll take a good look at the market reaction below.
eToro, Senior Market Analyst
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