Facebook called before US Senate panel over its digital currency Libra

Facebook Inc’s plans to create a global cryptocurrency will face scrutiny from the US Senate Banking Committee on July 16, the latest sign that policy makers around the globe are casting a wary eye on the project.

The hearing will explore the project, dubbed Libra, as well as any data privacy considerations it may raise, the committee said on Wednesday. No witnesses have been announced yet, according to a committee spokesperson.

David Marcus, who oversees Facebook’s blockchain efforts, is expected to testify, according to a source in Washington familiar with the matter.