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Live: Congress vs. Facebook's Libra, Nonprofit

Sofia Cabrera

Summary: Congressman Williams asked, “Can you do into greater detail on how you reconcile the associate being a nonprofit, yet you will pay dividends to the investors? ” Marcus answers saying, “the association is a nonprofit membership-based association under the laws of Switzerland, that are slightly different. But that being and a goal for the association ...

Congressman Williams asked, “Can you do into greater detail on how you reconcile the associate being a nonprofit, yet you will pay dividends to the investors? ” Marcus answers saying, “the association is a nonprofit membership-based association under the laws of Switzerland, that are slightly different. But that being and a goal for the association is not to generate a profit but if it has to payout income streams it will pay taxes on those income streams as covered by the Swiss law.” 

Author: Sofia Cabrera

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