Facebook Changes Course On Libra Digital Currency
Facebook is thinking of changing the course of work on releasing Libra in 2020. It is known that a number of countries and regulators have previously expressed their critical attitude and doubt regarding the Libra project. France said cryptocurrencies like Libra threaten the monetary sovereignty of governments. Other countries suppose that Libra will contribute to money laundering and terrorist financing.
The digital wallet of the social network should appear this autumn, a few months later than previously planned. To mitigate criticism and doubt, Facebook will now offer government-issued currencies, such as dollars and euros, to support its own token. According to the Bloomberg article of March 3, both cryptocurrency and government-issued currencies will be available on the digital wallet Calibra. By redesigning the digital wallet and reducing cryptocurrency features, Facebook hopes to release Calibra and Libra at the same time, tentatively in October. Calibra will allow users to send and receive money — now in fiat currency, as well as make purchases.
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