Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Shahinaz on October 25, 2019, 05:44:14 PM
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After a recent congressional hearing, Rep. Patrick McHenry (R-NC) said that despite the current regulatory backlash Libra faces, the digital currency proposed by Facebook will likely launch. The Congressman also said he didn’t think it was right for Facebook to be undergoing the level of scrutiny it has encountered at such an early stage of the project.
McHenry gave his comments after the six-hour Congressional hearing about Libra held yesterday. According to a report by Yahoo Finance, the Congressman said he couldn’t say when the digital currency would launch but he was confident that it would do eventually.
(https://3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com/wp-content/uploads/2019/07/shutterstock_libra_good_bad.jpg)
Libra Challenging the Status Quo
He went on to say that he was open to ideas that both conform to existing regulatory standards and challenge them:
“I’m especially open to ideas if they conform with our existing regulatory regime here in the United States. I’m open to innovations that mean that we have to correct our regulation.”
Do you think Libra will launch by next summer — or at all?
full article at: https://beincrypto.com/libra-will-push-ahead-despite-trial-on-us-innovation-says-congressman/
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After a recent congressional hearing, Rep. Patrick McHenry (R-NC) said that despite the current regulatory backlash Libra faces, the digital currency proposed by Facebook will likely launch. The Congressman also said he didn’t think it was right for Facebook to be undergoing the level of scrutiny it has encountered at such an early stage of the project.
McHenry gave his comments after the six-hour Congressional hearing about Libra held yesterday. According to a report by Yahoo Finance, the Congressman said he couldn’t say when the digital currency would launch but he was confident that it would do eventually.
(https://3xz7gj47vd1t2zgr1q19hmwl-wpengine.netdna-ssl.com/wp-content/uploads/2019/07/shutterstock_libra_good_bad.jpg)
Libra Challenging the Status Quo
He went on to say that he was open to ideas that both conform to existing regulatory standards and challenge them:
“I’m especially open to ideas if they conform with our existing regulatory regime here in the United States. I’m open to innovations that mean that we have to correct our regulation.”
It will be interesting to see Libra push forward and what they bring to the table, to be honest we should all be excited if they bring more mass adoption and attention to crypto, of course they are not the main solution, BTC really is.
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Finally.
I have high hopes for this project considering it is Facebook related and knowing Facebook who conquered the social media world, I'm positive that this will bring cryptocurrency to something wonderful. I really believe that what lacks blockchain is the right promotions so I am thinking with Facebook having at least one cryptocurrency put to good use, people will eventually know more about cryptocurrency and will be able to see how useful it is in this fast paced world.
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the digital currency proposed by Facebook will likely launch.
Good, good if you already have plans to launch because I'm sure LIBRA can't wait to jump into the cryptocurency trade, which always bears fruit all the time.
But the question?
Is the LIBRA familiar with regulations from around the world for digital currencies?
Because many in various countries that this LIBRA (planned) will be blocked.
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There are some countries that will adopt Libra in the begining as we have seen how Bitcoin faced in the past and current so Libra can be easily heard to millions of people from their social network.
I would see a lot of people increase within a short time because of trust on Social media sites by youths.
Some are saying failure in Libra and some have left them, but does this all will help in close of Libra?
I would say Libra will move ahead once it is launched, but Mark should keep tight security on it.
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the digital currency proposed by Facebook will likely launch.
Is the LIBRA familiar with regulations from around the world for digital currencies?
Because many in various countries that this LIBRA (planned) will be blocked.
The article above says that LIBRA needs something that must be fulfilled in various aspects.
So LIBRA is also widely rejected in various countries, even well-known foreign companies such as Vodapone are also leaving the partnership with LIBRA.
It takes time for LIBRA to enter the cryptocurrency market because we all know that creating new things is difficult.
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Libra got redesigned to include (https://www.forexbrokerz.com/news/facebooks-libra-proposes-multiple-single-currency-stablecoins) include multiple versions of the proposed stable coin, each backed by a single fiat currency like the Euro or the U.S. dollar, so this time around the regulatory pushback may not be so intense.
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Libra got redesigned to include (https://www.forexbrokerz.com/news/facebooks-libra-proposes-multiple-single-currency-stablecoins) include multiple versions of the proposed stable coin, each backed by a single fiat currency like the Euro or the U.S. dollar, so this time around the regulatory pushback may not be so intense.
Well, as I said, it is certain that this will be a problem where it will not be able to create LIBRA's own currency in the form of altcoins.
LIBRA is afraid that the price of the coins will have no value and it is certain that LIBRA will be left just like that and LIBRA is well aware of this and LIBRA is looking for stable, valuable coins to become partners, namely USDT.
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Libra coin's future plan with Facebook. That's why I'm expecting high results. I think everyone will achieve the expected success. I think the project will be easy to follow. There should be long term planning. I look forward to the beautiful future of libra coin. I want to see the beautiful future soon.
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Libra coin's future plan with Facebook. That's why I'm expecting high results. I think everyone will achieve the expected success. I think the project will be easy to follow. There should be long term planning. I look forward to the beautiful future of libra coin. I want to see the beautiful future soon.
It is unlikely that there will be a bright future in Libra's coins. Time is already lost. If this coin appeared a year ago, maybe everything would be fine. Now there are stable coins of the central banks of the states and commercial stable coins and private stable coins will lose their attractiveness against their background. The digitized Chinese yuan may well capture the possible popularity of Libra. If this coin still appears.
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Most countries have Facebook users. However, cryptocurrency is not approved in many countries. So some countries will not support ict sector libra coin. However, its users will be scattered all over the world. Its companies in many countries are also leaving partnerships with Libra. Because they do not support crypto currency. They think negatively about libra. If they could make a positive judgment then the transaction would start in libra crypto currency.
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Do you think Libra will launch by next summer — or at all?
It's not yet time for LIBRA to be able to launch its tokens this summer because LIBRA is still deep in its sleep and doesn't want anyone to bother him.
Or even tomorrow also LIBRA will be launched so easily that gets the effect of various communities who are urged to immediately launch coins.
To be honest,i have abit dissapointed for project LIBRA because always pending for launch their token but this is cryptocurrency , LIBRA need a bit time for to do !
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Libra will push ahead despite trial on us innovation, says congress. It's ok no problem they thought that so but the Reality is different because every project management wanted to success their project it is not bad. Critics are always criticism any subject if that is like Libra, no way to bit !!! 😎
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Libra got redesigned to include include multiple versions of the proposed stable coin, each backed by a single fiat currency like the Euro or the U.S. dollar, so this time around the regulatory pushback may not be so intense.
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Libra has received support from the strategic investor Blockchain Capital. If such a serious investor is ready to invest, then this indicates a change in attitude towards Libra on the part of the USA.
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maybe Libra coin in my opinion will be launched in 2021
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At a recent meeting of the G-7, it was said that the greatest danger is the emergence of stablecoins, behind which are large corporations - the meeting participants said that renaming Libra to Diem would not reduce the opposition of the authorities to this project. It seems that they only allowed the release of the Diem stablecoin and again something is wrong.
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The rules in America are very strict.
America would not be big like this if they didn't have strong, good and disciplined rules.
LIBRA came with a lot of problems in the American market.
Like it or not, LIBRA must follow the rules created in the Super Power country so that it runs smoothly in the future.