US Senate Banking Committee announces hearing on Facebook's Libra

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It is being reported by Coindesk that it has just been announced that the United States Senate Banking Committee will holding a hearing concerning the Libra, the new digital asset revealed by Facebook yesterday.
US Senate Banking Committee announces hearing on Facebook's Libra
The hearing's title is "Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations," and comes in the wake of calls for Facebook to halt progress on this new asset until further review can be done.
The date of the hearing is set for July 16th, and will be broadcast to the public. As of now, no information is available on what witnesses may be called.
United States Congresswoman Maxine Waters has been among the most vocal proponents of Facebook slowing down on this new endeavor, just today reiterating her concern that Facebook has "too much power" already:
Will Facebook be deterred by the US government, or will it convince them that the Libra is safe? Or, will it move forward despite lack of approval?
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