It’s been a pretty intense month for the Libra Association, whose stablecoin has come under intense scrutiny from the U.S. Congress and the G7 over fears of destabilizing the global financial system when it launches next year.
Despite being called ‘global threat’, Libra Association launches
A signing ceremony by the cryptocurrency’s members was overshadowed by dropouts and a report calling stablecoins a threat to the global economy
Facebook’s wounded Libra Association formally voted itself into existence on October 14, electing a board and choosing officers. The ceremony was overshadowed by the loss of seven original members including Mastercard and Visa.
The libra logo on a cellphone sitting on some coins. What else do you need to see? (via Shutterstock)Facebook stands firm on 2020 Libra cryptocurrency launch
Despite heavy resistance, the head of the Libra Association said the group is ‘firmly maintaining’ plans to take its stablecoin live as early as June
Facebook’s cryptocurrency will launch as early as June 2020, Libra Association head Bertrand Perez told a French newspaper on September 13.
