Zuckerberg warns of China threat if US blocks Libra

Facebook chief says American financial leadership and values are in jeopardy

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Facebook founder Mark Zuckerberg has warned that China's threat to U.S. global financial leadership will grow if Washington blocks the social network's Libra cryptocurrency plan. © AP

YIFAN YU, Nikkei staff writer

TOKYO -- Mark Zuckerberg, the founder and CEO of social media giant Facebook, has warned that U.S. leadership in finance will be further threatened by China if American regulators block the company's Libra cryptocurrency plans.

The tech executive on Wednesday also defended Facebook's mainstay business at a hearing in Washington, claiming that Facebook is an important global platform for advocating U.S. democratic values such as freedom of speech.

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