CEO Ripple brad Garlinghouse said that Facebook will not be able to launch its own cryptocurrency Libra until 2023. He told this in an interview with Fortune. According to him, the main obstacle for the project will be the pressure from financial regulators. We will remind, earlier it became known about the withdrawal from PayPal of the Association of Libra. According to some experts, this news will have a positive impact on the prospects of Bitcoin, but on the popularity of the cryptocurrency among ordinary people will be bad.
Facebook will not be able to capture the crypt
Mark Zuckerberg is obviously going to experience difficulties with its new project in the coming years.
I would bet that Libra will not start until the end of 2022.
In other words, the governments of the States “too many claims” to new digital currency. Most recently, German Finance Minister Olaf Scholz expressed concern about the fact that many currencies, issued by companies. Scholz believes that monopoly to issue currency in any form should remain only in the hands of the state.
Garlinghouse added that Libra would have more opportunities for development, if all the strings of the project were not to Facebook.
It would have been much easier if Facebook was not the center of attention.
As noted above, Libra Association lost an important member on October 4, the company PayPal has left the Association. Her representatives said that the participation of PayPal in Libra Association can harm reputation of the company.
See also: Facebook Employees created a cryptocurrency Libra, because they did not fit Bitcoin.
In addition, it became known today about the pressure of a U.S. Senator on Mastercard and Visa. It is recommended that management companies to attend to the cooperation with Facebook, because “any weakness of the system of risk management of the social network will become a weakness in the systems of Mastercard and Visa”. And the latter can not cope with them.
Position Facebook: Libra supposedly do not pose a risk to national currencies, because the token is backed by them.
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