RATE Group | Facebook firm in quest to launch Libra cryptocurrency | Money
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Facebook firm in quest to launch Libra cryptocurrency | Money

25 Jul Facebook firm in quest to launch Libra cryptocurrency | Money

Posted at 05:28h in Cryptocurrency News by

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Representations of virtual currency are displayed in front of the Libra logo in this illustration picture, June 21, 2019. — Reuters pic
Representations of virtual currency are displayed in front of the Libra logo in this illustration picture, June 21, 2019. — Reuters pic

SAN FRANCISCO, July 25 ― Facebook chief executive Mark Zuckerberg yesterday 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…

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