Copy link
Increase text size
Decrease text size
Link copied

Libra Association head confident about crypto launch in H2 2020

Fri, 13 Sep 2019, 11:11 am UTC

The head of the Libra Association, the governing body of Facebook’s Libra project, has said that Libra cryptocurrency would be launched in the latter half of 2020.

The comment is rather startling given the continued regulatory pushback the project is facing. Just recently, French finance minister Bruno Le Maire said that they cannot authorize the development of Libra on European soil.

However, despite the regulatory resistance, Bertrand Perez, director-general of the Libra Association, is confident about the launch of the cryptocurrency. In an interview with Les Echos, Perez said that they are “firmly maintaining” their launch schedule and has taken a year prior to the launch to address all the issues.

“To achieve this goal, we still have work and especially with the regulators. We are about to get our approval, as a payment system, in Switzerland. We are fully aware of the issues related to money laundering and terrorist financing, and we will work with regulators to address them,” he said (via online translation).

He also said that the association is aiming to expand to 100 members next year, adding that they have received numerous requests, running into many more than a hundred.

Speaking of the composition of the currency basket that will back Libra, Perez reiterated that it will include the dollar, euro, yen, pound sterling and Singapore dollar, but not Chinese yuan. He also said that the Libra Reserve will be invested in the currencies of the basket and very short-term government debt.

“These should be a few tens of billions of dollars, a hundred and probably no more than 200 billion dollars,” Perez said.This is a low figure in the global financial markets of currencies. We are not going to become a new BlackRock. This is why the fears about the destabilizing aspect that this reserve could have on the monetary policy of the central banks whose currencies appear in our basket do not seem to us to be justified.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,658.74 (-0.53%)
  • Ethereum (ETH) $241.63 (-0.16%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $254.09 (-1.32%)
  • Bitcoin SV (BSV) $194.10 (-1.57%)
  • Bitcoin (BTC) $9,658.74 (-0.53%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft