Facebook CEO testifies on cryptocurrency, free expression

Mark Zuckerberg faces questions from the House Financial Services Committee on cryptocurrency platform Libra and other controversies related to the social media platform.
3:31 | 10/23/19

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Transcript for Facebook CEO testifies on cryptocurrency, free expression
Back here Washington now FaceBook CEO Mark Zuckerberg is testifying on Capitol Hill today it's his first appearance. In front of congress since April 2018 is there to talk about Facebook's plan to create a new digital currency also to take some questions. On the company's policy toward free speech also election meddling. For more on this I want to bring in now Matt Katz he's in news editor at digital trends came at its good to see you. So let's start by talking about the bribe that's Facebook's currency they want congress' approval to get back on but he. Sure seems like nobody out there is eager to back this thing. Yet it's kind of incredible in this time were everything is so polarized the one thing the Democrats and Republicans can agree on is that they don't want FaceBook. To have its own currency. FaceBook kind of turnaround in the summer time they got find five billion dollars for how they dealt with people's personal information. And then they said oh we wanna start worldwide currency and immediately ran into issues with regulators not just here in the US but all over the world. You know he's also map and taking it a heck of a lot of heat. For the company's policy towards free speech political ads we've seen some controversy with the democratic candidates. In the past couple of weeks over that trump campaign ad taking on Joseph Biden a lot of false claims in their company. Standing by the ad even though they have a policy that sit for bids false and misleading information on the platform are causing a thread that needle. It's a little tricky he got up last week at Georgetown university and gave a big speech about how. They don't want to essentially sensor politicians. So though allow them to say almost anything they want. Including misleading information this is something that Mark Zuckerberg says. Is Facebook's approach to not being up a sensor against anyone that wants to have political speech. That being said Democrats in particular have called this a bad policy and one that could affect the outcome of the 20/20 election. And some of the can hates talking about breaking up FaceBook job because of some these positions as well as you know Matt finally you know that the company is taking questions today they have been facing some questions of the past. A couple of days about new reports of election meddling Russia Iran. Already laying the ground work based C acted to meddle in the 20/20 campaign. What can you tell us use you've studied the company's new policy what are they doing differently. 12020 to try to prevent and root out this sort of interference. So one of the big things that they announced just a few days ago was that all local ads are going to happen have a label on it that says essentially who paid for it not just the FaceBook page that paid for a couple whatever organization is behind them. That being said we've seen a lot time and time again that malicious actors. People from you know Russia China not Iran have bought FaceBook ads pretending to be Americans so it's not exactly something that we think is going to be complete solution to this it definitely helps and at some transparency. But we expect to see the same sort of election interference that happened 2016. Likely happening again in 20/20 and I think that that's one of the things that they're going to be addressing today on Capitol Hill as. What else can FaceBook due to really prevent this. And all of Austin did play our part as well if you see something say something be on the look out. For those fake stories in false information Mac cats news editor it is in France thanks so much Matt. Thank you.

This transcript has been automatically generated and may not be 100% accurate.

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