Launch of Facebook’s cryptocurrency could be delayed

By Brenna Hughes Neghaiwi | Reuters

GENEVA – The launch of Facebook’s Libra could be pushed back to tackle the regulatory concerns that have been raised around the world, the head of the organization set up to oversee the cryptocurrency told Reuters.

Three months ago, Facebook announced plans to launch the digital currency in June 2020, in partnership with other members of the Libra Association set up by the U.S. tech giant to manage the project.

However the attempt to drag cryptocurrencies into the mainstream has since met with regulatory and political skepticism globally, with France and Germany pledging to block Libra from operating in Europe.

Bertrand Perez, managing director of the Geneva-based Libra Association, said discussions were continuing with regulators from Europe and elsewhere to assuage concerns.

“When we (made) the announcement in June, that was our North Star,” Perez said of the June 2020 launch date, adding that a delay of one or two quarters would not…