Here's what you need to know before Mark Zuckerberg testifies in front of the House Financial Services Committee on Libra.
Facebook's CEO released his written testimony a day before his scheduled appearance before the U.S. House of Representatives.
A draft bill published Tuesday would regulate stablecoins under the Securities Act of 1933.
ING CEO Ralph Hamers said Libra could make it difficult for banks to accept or keep the project's creator as a client.
David Marcus, who leads the Libra project, said China will create a digital currency system that could be entirely out of reach for U.S. authorities.
Under pressure from regulators, the Libra project may consider a fundamental change to the way its planned crypto payments system will operate.
Bucking a trend, Sen. Mike Rounds (R-S.D.) wrote a letter praising Libra as a technological advance that he feels is needed.
No mention of Libra.
The French finance minister has said Libra is an "unacceptable" challenge to state sovereignty and suggested political motives behind the project.
Federal Reserve governor Lael Brainard delivered a sharp critique of Libra, which would need to resolve many regulatory hurdles before going live.
The Libra Association has said the project is undeterred by recent setbacks and expects to sign up 100 partners before it goes live.
Libra, says Stefan Ingves, is forcing central banks to re-consider their primary product: money.
At a charter signing in Geneva on Monday, the Libra Association locked in 21 members of its governing council.
Visa, Mastercard, eBay, Stripe, Mercado Pago and PayPal have all withdrawn from the Libra Association now.
Facebook CEO Mark Zuckerberg will defend Libra before U.S. lawmakers later this month.