Facebook would quit Libra, if US regulators didn’t approve it

[mlawson71]

Facebook would quit Libra, if the project is not backed by US regulators, said Marc Zuckerberg in a hearing of the House Financial Services Committee on Wednesday.

When a congressman asked Facebook CEO and founder what will happen if the Libra Association decided to launch the proposed cryptocurrency without the US regulators’ approval, Zuckerberg said that the company would pull out of the association.

Similarly, Zuckerberg committed to preventing anonymous use of the Calibra wallet, the Facebook subsidiary developing a wallet for Libra, as congressmen expressed concerns that anonymous wallets may be a new loophole for criminals looking to hide money.

Source

[Alcor]

Already there was information that at a hearing in the US Congress, Zuckerberg said that Facebook will no longer have anything to do with the Libra project and this coin will be issued without Facebook. However, how this is possible is not yet clear to me.

[alltalk]

I have read this news yesterday and it seems bad ending of Libra project. I don't know why it is too early for Libra to not launch. US regulators really make all companies that cooperate to join Libra project decide to exit. Yeah, let's see what will happen next on Libra project.

[Delgboke]

The US regulators should just allow the Libra project to be Lunched why is that his own is now different from other crypto projects, has it become a treats to dollar since it was said that is going to be a stablecoin. But Libra is not the first stablecoin that has been lunched.

[pelana vreo]

I feel confused with this project, I think the idea they have is definitely rejected by members of the government because Libra coins have prices that will compete with currencies like EURO and USD.
But I see some new things about this libra, apart from facebook which is no longer part of libra, I see new information from coindesk https://www.coindesk.com/new-libra-fork-will-create-permissionless-stablecoin-free-of-corporate-control

[rizqillah]

Facebook would quit Libra, if the project is not backed by US regulators, said Marc Zuckerberg in a hearing of the House Financial Services Committee on Wednesday.

When a congressman asked Facebook CEO and founder what will happen if the Libra Association decided to launch the proposed cryptocurrency without the US regulators’ approval, Zuckerberg said that the company would pull out of the association.

Similarly, Zuckerberg committed to preventing anonymous use of the Calibra wallet, the Facebook subsidiary developing a wallet for Libra, as congressmen expressed concerns that anonymous wallets may be a new loophole for criminals looking to hide money.

Source

I think It is good thing,  I hope the libra project will  back up by The US . Libra is very potential coin.  Zuckerberg support this coin.  One of the bug companies,  facebook.  It is the reason  why I buy and hold libra coin.  It will be more popular  soon.

[I-Bit]

I think It is good thing,  I hope the libra project will  back up by The US .

Good thing? What do you mean? Do you understand what OP stated on the thread above?
You know that Libra is almost at the end of its journey. If there is no support from the US government, then Libra coin cannot be launched. It is definitely bad news, you must understand it!!

[damsix]

This bad news is very painful for LIBRA and it is very painful.
I am also sure that LIBRA will make itself an extinct coin left by its #DevelopmentTeam . LOL

We can see the results later when it is on the market!

[Bobcrypto]

Yeah, i think this may actually be a bad news on crypto ecosystem, but things may turn around. Let wait and see how Facebook libra project ends. I just hope Libra will get the required back up at the end of this drama.