RATE Group | Facebook firm in its quest to launch Libra cryptocurrency – Tech News
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Facebook firm in its quest to launch Libra cryptocurrency – Tech News

28 Jul Facebook firm in its quest to launch Libra cryptocurrency – Tech News

Posted at 04:50h in Cryptocurrency News by

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Facebook chief executive Mark Zuckerberg on July 24 reaffirmed his commitment to the social network’s quest to launch Libra cryptocurrency despite pushback from governments and critics.

Facebook last month unveiled plans for Libra in an announcement that sparked fears of the unintended consequences of a loosely supervised global currency.

Switzerland’s financial watchdog FINMA has already pledged to conduct oversight of the Geneva-based Libra Association that will watch over the digital money, which is expected to debut next year.

Zuckerberg backed the Libra project while fielding questions on an earnings call, saying Facebook publicly released details to invite the kinds of queries and open dialogue currently taking place.

“Facebook from a few years ago would have probably just showed up and tried to release a product on our own,” Zuckerberg said of Libra during the call with analysts.

The California-based company’s approach regarding sensitive territory is now to outline ideas and…

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