Mark Zuckerberg plans eventually win regulators' support for Libra

Posted 26 July, 2019

Mark Zuckerberg has expressed intentions to take all measures to bring over regulatory authorities and officials to support the Libra project. The company is going to take time as much as suffices to bring to head the cryptocurrency. The Libra project was discussed during the Facebook Second Quarter 2019 Earnings Call..

During the call, the company representatives and investors discussed Facebook results, financial performance and other issues that were achieved or occurred over the period under review. Also, Mark Zuckerberg stated that Facebook does not mess about the Libra project.

In particular, the Libra project remains in the global spotlight, while the recent testimony made by CEO of Facebook's blockchain division David Marcus in the US Congress cast a shadow over the plans to launch Libra in H1 2020.

"Facebook and the Association plan to work with regulators to help address all of their concerns before Libra will be ready to launch..." stated Zukerberg.

He highlighted that the companies used to launch new instruments without taking into account the regulatory framework several years ago, but now Facebook is trying to get out a message and values that Libra may bring. In this context, it was stated that they are ready for an open dialogue in case of possible Libra delay.

Zuckerberg stated during the call:

"We've been working with experts on freedom of expression around the world, and we've gotten a lot of public input on how this could work, which we published in a report last month..."

 He noted that the company run numerous projects, including major ones, while the Libra project is one of them that just lured more public attention.

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26 July, 2019 12:22

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