All news related to the category "Facebook Libra (LIBRA)"
Libra has been in the public eye for six months and during that time, the main titles in the media concerned its problems with financial regulators. In this article, we decided to find out the main officials` claims to this project and understand if this stablecoin has a future.
Mark Zuckerberg is going to tell Congress that Libra will help 1.7 billion unbanked people, not to stay away from the financial world. And if Libra does not provide this help, China will do it.
The Big Seven International Club (G7), which includes 7 countries with the most developed economies, according to IMF criteria, stated in its report that global stable currencies pose a threat to the world economy. The report lists 9 risks associated with “global stable coins” that can be “scaled quickly”.
Due to the authorities' increasing fears about how secure the launch of Facebook’s stablecoin Libra is, the founder and CEO of social media company Mark Zuckerberg was called to the White House to testify before the US Congress.
The stablecoin Libra will not be released until at least 2023, says CEO of Ripple, one of the coin's potential competitors.
The European Commission sent an official request to Facebook and the Libra Association in which it asked the organizations to answer a number of questions related to financial stability, as well as the risks of money laundering and data privacy loss that may occur when launching Libra's stablecoin.
German Federal Finance Minister and Vice Chancellor Olaf Scholz has demonstrated his support for the electronic Euro`s introduction in the perspective of Facebook`s plans to launch its own digital currency Libra.
Libra Association posted the official roadmap of its project on the network, which details what steps the development team needs to take to begin the main network working.
While European regulators are quite biased towards the Libra project, Switzerland is ready for dialogue.