It became known that Facebook will not launch its own Libra cryptocurrency until the necessary approvals from US regulators are obtained. This was stated by the head of the company, Mark Zuckerberg, in a written introductory speech to the hearings that began today in the House of Representatives of the US Congress.
In the letter, Mr. Zuckerberg makes it clear that Facebook does not intend to launch a cryptocurrency bypassing existing rules. He emphasized that the launch of the Libra payment system anywhere in the world will not take place until all US regulators approve it. The company will support delaying the launch of Libra until all issues related to the concerns of US regulators have been resolved.
The statement also notes that the rejection of innovative projects leads to risks associated, among other things, with China. “While we are discussing these issues, the rest of the world is not waiting. China is moving fast towards launching similar ideas in the coming months,” Zuckerberg said. It was also said that the management of the project will be entrusted to a specially created organization Libra Association, which includes more than 20 companies. However, Facebook will not control the activities of the Libra Association.
Recall that Facebook announced plans to launch a new cryptocurrency in June 2019. The company said that transferring digital currency Libra would be as easy as "sending a text message to the phone." Blockchain technologies are at the heart of the future cryptocurrency.
Source: 3dnews.ru