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Facebook 'rethinks' plans for Libra cryptocurrency
Source: BBC
Facebook 'rethinks' plans for Libra cryptocurrency
4 March 2020
Facebook is reportedly rethinking its plans for its own digital currency after resistance from regulators.
It is now considering a system with digital versions of established currencies, including the dollar and the Euro, according to Bloomberg and tech site The Information.
The Libra Association, which Facebook founded to create the currency, will continue its work, the reports said.
The plan will include Libra, the company said in response.
The social network's digital wallet is now expected to launch this autumn, several months later than initially planned, according to the reports.
Of earlier reports that it might drop Libra itself, the firm said: "Facebook remains fully committed to the project."
-snip-
4 March 2020
Facebook is reportedly rethinking its plans for its own digital currency after resistance from regulators.
It is now considering a system with digital versions of established currencies, including the dollar and the Euro, according to Bloomberg and tech site The Information.
The Libra Association, which Facebook founded to create the currency, will continue its work, the reports said.
The plan will include Libra, the company said in response.
The social network's digital wallet is now expected to launch this autumn, several months later than initially planned, according to the reports.
Of earlier reports that it might drop Libra itself, the firm said: "Facebook remains fully committed to the project."
-snip-
Read more: https://www.bbc.com/news/business-51730772
