Survey: Libra Will not Launch in 2020
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20 January
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Facebook's stablecoin (Libra) will not be launched this year, according to a survey carried out by The Block.

Of the 106 respondents, who belong to the worlds of venture capital investment, financial services and the digital asset industry as a whole, 67.9% think Libra will not be launched this year, while just 31.1% believe Facebook's stablecoin will become a reality in 2020.

It must be noted the results of the survey are not that surprising if we take into account the latest developments. The launch of Facebook's stablecoin is encountering a lot of obstacles.

For example, shortly after the social network announced its project on June 18, regulators from all over the world started to share their skepticism, arguing Libra could represent a risk to global financial stability due to the company's huge user base.

As a result, the US Congress held a series of hearings in July so that Facebook tried to respond to questions from regulators.

However, it looks like a large number of countries are not still unconvinced by the project. For example, earlier this month the chairman of the central bank of Germany, Jens Weidmann, called on banks to develop faster and cheaper payment offers to fight Libra, while in September France's finance minister, Bruno Le Maire, proposed banning the development of Libra in Europe.

Facebook is determined to launch its stablecoin. The company announced just three days ago the launch of a committee to oversee the technical development of the project.

It is still unknown whether the social network will be able to overcome all the regulatory obstacles it is facing. We can just sit and wait!

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