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                    Contents
                    <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">America may lose its financial leadership, says Zuckerberg</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">China vs US</a></li></ul>
                
                  
    
                    



                  
    
                    



                
              As the CEO of Facebook testified&nbsp;in front of the House of Representatives Financial Services Committee in the Congress today to get his message about&nbsp;unbanked US citizens benefiting from <a href="https://u.today/libra-was-a-neat-idea-that-will-never-happen-jpmorgan-ceo-jamie-dimon">the use of Libra</a>, he said that America may lose its financial leadership unless it permits fintech innovation and supports Libra.

The venture investor Anthony Pompliano published a quote by Zuckerberg on his Twitter page, saying that the Facebook’s founder had made an excellent point.

<blockquote class="twitter-tweet">
“If America doesn’t innovate, our financial leadership is not guaranteed.”

This is Mark Zuckerberg’s main message to Congress today.

It is a great point.
— Pomp ? (@APompliano) <a rel="nofollow" target="_blank" href="https://twitter.com/APompliano/status/1186970845815672832?ref_src=twsrc%5Etfw">October 23, 2019</a></blockquote>




America may lose its financial leadership, says Zuckerberg

The Facebook CEO was trying to protect his company’s brainchild Libra in front of the Congress and get them to see his point, while saying that the US is in danger of <a href="https://u.today/bitcoin-age-are-the-us-about-to-lose-crypto-leadership-to-china">losing its leadership in the world of finance</a> without advances in the fintech area.
                
                  
    
                        Ads




                  
    
                        Ads




                
              

China is already testing its yuan-backed ‘China Coin’ and Libra could become a worthy answer of the US to that. Also, the launch of Libra and the government supporting it would ensure the US remains the leader in the field of digital finance.

<a rel="nofollow" target="_blank" href="#">card</a>

China vs US

The Chinese Central Bank Digital Currency (CBDC), often referred to simply as <a rel="nofollow" target="_blank" href="#/news/china-coin-not-to-be-launched-this-november-communist-party-of-china">‘China Coin</a>’, is fully supported by the government and pegged to its native currency yuan. Amidst the current ‘trade war’, the Chinese CBDC could help dodge the US trade sanctions and even attract numerous investments into the country.

Besides, if launched prior to Libra or another digital version of the USD (as Anthony Pompliano warned previously in a CNBC interview), the Chinese CBDC may help China take another step to turning into the world’s leading economy.

<em>What are your thoughts on Libra and the effect it is assumed to have on the global banking system? Feel free to share them in the comments section!</em>




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Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 628)
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                    Contents
                    <ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">America may lose its financial leadership, says Zuckerberg</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">China vs US</a></li></ul>
                
                  
    
                    



                  
    
                    



                
              As the CEO of Facebook testified&nbsp;in front of the House of Representatives Financial Services Committee in the Congress today to get his message about&nbsp;unbanked US citizens benefiting from <a href="https://u.today/libra-was-a-neat-idea-that-will-never-happen-jpmorgan-ceo-jamie-dimon">the use of Libra</a>, he said that America may lose its financial leadership unless it permits fintech innovation and supports Libra.

The venture investor Anthony Pompliano published a quote by Zuckerberg on his Twitter page, saying that the Facebook’s founder had made an excellent point.

<blockquote class="twitter-tweet">
“If America doesn’t innovate, our financial leadership is not guaranteed.”

This is Mark Zuckerberg’s main message to Congress today.

It is a great point.
— Pomp ? (@APompliano) <a rel="nofollow" target="_blank" href="https://twitter.com/APompliano/status/1186970845815672832?ref_src=twsrc%5Etfw">October 23, 2019</a></blockquote>




America may lose its financial leadership, says Zuckerberg

The Facebook CEO was trying to protect his company’s brainchild Libra in front of the Congress and get them to see his point, while saying that the US is in danger of <a href="https://u.today/bitcoin-age-are-the-us-about-to-lose-crypto-leadership-to-china">losing its leadership in the world of finance</a> without advances in the fintech area.
                
                  
    
                        Ads




                  
    
                        Ads




                
              

China is already testing its yuan-backed ‘China Coin’ and Libra could become a worthy answer of the US to that. Also, the launch of Libra and the government supporting it would ensure the US remains the leader in the field of digital finance.

<a rel="nofollow" target="_blank" href="#">card</a>

China vs US

The Chinese Central Bank Digital Currency (CBDC), often referred to simply as <a rel="nofollow" target="_blank" href="#/news/china-coin-not-to-be-launched-this-november-communist-party-of-china">‘China Coin</a>’, is fully supported by the government and pegged to its native currency yuan. Amidst the current ‘trade war’, the Chinese CBDC could help dodge the US trade sanctions and even attract numerous investments into the country.

Besides, if launched prior to Libra or another digital version of the USD (as Anthony Pompliano warned previously in a CNBC interview), the Chinese CBDC may help China take another step to turning into the world’s leading economy.

<em>What are your thoughts on Libra and the effect it is assumed to have on the global banking system? Feel free to share them in the comments section!</em>




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Twig\Template->display(Array) (Line: 390)
Twig\Template->render(Array) (Line: 55)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 384)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 433)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 242)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 580)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 243)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 132)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
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call_user_func(Array, Object, 'kernel.view', Object) (Line: 142)
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Original article based on tweet

Mark Zuckerberg Warns Crypto Innovation Is Vital to Let US Keep Its Financial Leadership

Wed, 10/23/2019 - 13:06
article image
Yuri Molchan
As Mark Zuckerberg was protecting the Libra project in front of the US Congress, he warned that US may lose its financial leadership to China
Mark Zuckerberg Warns Crypto Innovation Is Vital to Let US Keep Its Financial Leadership
Cover image via www.forbes.com
Read U.TODAY on
Google News
Contents

As the CEO of Facebook testified in front of the House of Representatives Financial Services Committee in the Congress today to get his message about unbanked US citizens benefiting from the use of Libra, he said that America may lose its financial leadership unless it permits fintech innovation and supports Libra.

The venture investor Anthony Pompliano published a quote by Zuckerberg on his Twitter page, saying that the Facebook’s founder had made an excellent point.

America may lose its financial leadership, says Zuckerberg

The Facebook CEO was trying to protect his company’s brainchild Libra in front of the Congress and get them to see his point, while saying that the US is in danger of losing its leadership in the world of finance without advances in the fintech area.

China is already testing its yuan-backed ‘China Coin’ and Libra could become a worthy answer of the US to that. Also, the launch of Libra and the government supporting it would ensure the US remains the leader in the field of digital finance.

card

China vs US

The Chinese Central Bank Digital Currency (CBDC), often referred to simply as ‘China Coin’, is fully supported by the government and pegged to its native currency yuan. Amidst the current ‘trade war’, the Chinese CBDC could help dodge the US trade sanctions and even attract numerous investments into the country.

Besides, if launched prior to Libra or another digital version of the USD (as Anthony Pompliano warned previously in a CNBC interview), the Chinese CBDC may help China take another step to turning into the world’s leading economy.

What are your thoughts on Libra and the effect it is assumed to have on the global banking system? Feel free to share them in the comments section!

#Libra Coin News
article image
About the author
Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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