Washington, US — Facebook CEO Mark Zuckerberg sought to reassure sceptical US legislators on Wednesday that the company's planned digital currency Libra would be a force for good that could reduce costs for electronic payments and help more people participate in the global financial system.

Appearing in a suit and tie before the US House of Representatives financial services committee, Zuckerberg said Facebook would not back any move by Libra, which comprises a consortium of 21 members including venture capital firms and nonprofits, to launch the cryptocurrency until it had satisfied all US regulatory concerns.

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