During a hearing at Capitol Hill today, Mark Zuckerberg had a lot to say about Facebook. One of these statements was that “Libra won’t launch without approval from U.S. regulators.”
Ever since the idea of the cryptocurrency, Libra and Mark Zuckerberg have been under hot water. Lots of people are worried, considering multiple companies left the project. These companies included PayPal, eBay, Stripe, Visa and even Mastercard.
During the hearing, Committee members had lots to say about the digital currency. While some people are for the project, lots of them are against it. Some of the concerns about it include money laundering, security, and even data privacy.
Zuckerberg went on to say that Libra will use the best security measures, but you never know what could happen. Data leaks are happening all the time, and considering how big Libra would be, it would certainly be targeted.
While the cryptocurrency was first planned to launch in 2020, the launch date might have to be pushed back. If Facebook won’t launch the cryptocurrency until the government cooperates, who knows if it will even launch at all.
If it does launch, it will certainly make a huge difference. Libra will be a global currency, which means you could use it anywhere.