Libra may be delayed until 2020

Analyst predicts Facebook’s FaceCoin could earn up to $19 billion by 2021

Facebook’s ambitious cryptocurrency venture, Libra, has financial regulators around the world on their feet and thinking how a tech company’s digital currency rival with national fiat ones, established monetary policies and even national security.

All of these concerns and many more have now caused the launch of Libra to get delayed, most likely up until 2020. The information about the delay comes from the head of the Libra Association, Bertrand Perez, who told the news to Reuters at the end of last week.

As reported by New Europe, this is what Mr. Perez commented on the development of the project:

We knew that we would have to answer lots of questions coming from regulators on both sides of the Atlantic, and from other parts of the world.

While nobody expected that Libra will go live any time soon, Facebook’s CEO, Mark Zuckerberg was reportedly very eager to launch the project as soon as possible, hence his constant efforts and engagements to work with financial regulators to speed things up.

As Leaprate reported last week, Zuckerberg agrees that Libra cannot launch without full regulatory approval, which is to be received sometime in 2020.

David Marcus, who is the executive in charge of Libra on behalf of Facebook, has told the Swiss newspaper NZS that the currency is to be launched any time within 2020. He also argued that the digital currency will be a game-changer, as Libra is planned to have linkage with the global economy.

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