Mark Zuckerberg Trying Hard for Libra, US Congress isn't Convinced Yet

[S.coastapps]

Mark Zuckerberg pitched Libra in the US House of Representatives Financial Services Committee and explains the concept of facebook’s very own cryptocurrency Libra. Mark went on to explain how his Facebook, the parent company of libra is providing and undertaking all the necessary measures before the launch of its cryptocurrency.



The Cheif executive officer of Facebook assured he won’t be launching Libra until it has fulfilled all the given law requirements and satisfy the US lawmaker officials. Though after facebook’s data leak it’s quite hard for US officials to believe in Zuckerberg’s words.



Source: TheCoinrepublic

[alltalk]

Satisfy the US lawmaker officials? Then, I am not sure that Facebook will launch Libra with that situation. I think Facebook should get other ways to launch Libra. Satisfy the US lawmaker official sounds hard to do.

[LogiC]

If US doesn't satisfy yet. Why Mark keeps entailing his work on his own Country? Can he not pursue or build his project on those country that have a highly support for cryptocurrency? US really stepping on this very insensitive. I mean they interference has lead to various delay and negative feedback on cryptocurrency. I hope some country step up to interfere with their strict views on crypto cause I think Mark is creating an opportunity here for crypto enthusiast not just on his own sake.

[Alcor]

Zuckerberg has already stated in the US Congress that his Facebook will not have anything to do with the Libra project. This coin will be independent. It seems that Zuckerberg has finally surrendered. Even if Libra is released, which I still deeply doubt, this coin will no longer have the success that it could have.

[LogiC]

Zuckerberg has already stated in the US Congress that his Facebook will not have anything to do with the Libra project. This coin will be independent. It seems that Zuckerberg has finally surrendered. Even if Libra is released, which I still deeply doubt, this coin will no longer have the success that it could have.

Even though Mark segregate himself to Libra, the project will still be associated with Facebook, since he is the one started and people know already about Libra. Let say, he gave it to another firm, I think Congress will still scrutinized Libra even they change ownership. So Mark is putting this project on the line of dying. Well its not on his hand now if SEC dont really want them to enter the cryptomarket.

[Bobcrypto]

Zuckerberg has already stated in the US Congress that his Facebook will not have anything to do with the Libra project. This coin will be independent. It seems that Zuckerberg has finally surrendered. Even if Libra is released, which I still deeply doubt, this coin will no longer have the success that it could have.

Even though Mark segregate himself to Libra, the project will still be associated with Facebook, since he is the one started and people know already about Libra. Let say, he gave it to another firm, I think Congress will still scrutinized Libra even they change ownership. So Mark is putting this project on the line of dying. Well its not on his hand now if SEC dont really want them to enter the cryptomarket.

I think they had done a thorough forecast on this facebook project idea and came to a conclusion that that the Dallar might be kicked out from world economy impact.
Nevertheless, if Libra is handed over to another company, this will marked the end of Libra. This is just my opinion.

[Goodcat49]

Facebook exec acknowledges some people won't be 'comfortable' using a financial product built by Facebook but says Mark Zuckerberg isn't giving up — even if it takes decades

Despite what looks like a sea of pushback over the idea, Calibra (Facebbok calles it Calibra) is full-steam ahead inside of Facebook, the vice president of the project, Kevin Weil, told attendees on Tuesday at Web Summit, one of Europe's largest tech conferences, taking place the first week of November in Lisbon.

https://www.businessinsider.com/facebook-exec-says-mark-zuckerberg-not-giving-up-libra-calibra-2019-11

[sirty143]

I think nobody can stop the libra project. Governments I think are afraid Libra has a tremendous effect on the global currencies as it could dominate them. So, the best they can do is to create a crypto coin that could beat Libra that's my opinion.

[endlasuresh]

Libra can be started from other countries, why US only when they not urge to proceed. I think US Govt may lose money while funds from US to other countries or something behind Crypto. This was happening from long time and still they can't come with a decision whether to ban or not.
Libra will form a good payment method in the world, so it should be allowed to build better payment gateway system.

[Alcor]

I think nobody can stop the libra project. Governments I think are afraid Libra has a tremendous effect on the global currencies as it could dominate them. So, the best they can do is to create a crypto coin that could beat Libra that's my opinion.

Governments are not afraid of Libra's dominance in the financial market. They are afraid of possible abuses with this coin, as there are abuses on Facebook with user identities.
Since many states are now preparing to issue their national stable coins, Libra, even if they appear, will no longer have the impact on which they were calculated.

[damsix]

America may also be the same as the European Union, which is afraid of the instability of prices from LIBRA because LIBRA could easily dispose of all its tokens.
There are so many scams in cryptocurrency that Europe and America have a tendency to seek security. This is just opinion because i've seen reading news like this .

[vaysar]

Such global projects cannot be stopped or prohibited, they can only be transformed. Head of the Bank of England and Christine Lagarde support Libra, provided that the project rules comply with KYC and AML. Mark Zuckerberg does not support the project publicly, but only in order to preserve it.

[Olleridau]

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[IyemRoker]

Though after facebook’s data leak it’s quite hard for US officials to believe in Zuckerberg’s words.

This is because Mark Zuckerberg is very slow in development, it is proven that there are a lot of financial institutions around the world that do not support the LIBRA policy which has now been launched by Mark Zuckerberg.

I do not know, maybe tricks that thirst for victory by Mark Zuckerberg like his tricks in football, survive to win in the final minutes.
But I'm not sure about this because Mark Zcukerberg for the development of LIBRA is still fast asleep or maybe now is having a nightmare.