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| Facebook's digital currency lacks a clear plan for launch in 2020 |
Patrick Lips, a member of the Swiss Balance Society, told Reuters that the Libera digital coin project on Facebook in 2020 did not have a specific launch strategy, how and where the currencies were identified, and digital work would begin next year.
"There is no market or strategy for a particular product and there is no way to actually do that," said Ellis. When asked if Liberia will actually start in 2020, Ellis answered: Yes, but the extent to which Liberia will return at the end of June must be dependent on a dialogue with the organizers.
The controversial cryptocurrency project on Facebook has seen its potential use among 2.4 billion Facebook users worldwide, as regulators are shocked by the project's potential roots in the global financial system.
"The regulatory hurdles could delay the launch after the June launch date, and the regulators are down," said Facebook leaders who led the project, including David Marcus, a Facebook founder. Liberia The state is concerned about controlling its policies. The global treasury and financial turmoil.
Lael Brainard, Federal Reserve Chairman, announced his recent concerns about the project on Wednesday. The project faces a number of basic legal and regulatory challenges and the concept of a stable currency has not been proven.
Liberia should be guaranteed with asset reserves such as bank deposits and government debt. This structure should boost confidence and avoid price fluctuations in other cryptocurrencies, but Brenard's comments confirm this, highlighting the challenges facing Liberia.
Given the progress made in discussions with regulators in Europe, the United States and Southeast Asia, it is too early to devise a sound strategy, Ellis said. To improve the launch strategy, we still have to solve many problems with regulatory authorities. Ellis refused to take additional action. Table details are used to address regulatory concerns.
Before some of the first two Facebook supporters, including Mastercard and Visa, made the statements, they abandoned the project in October. PayU (Netherlands) was general counsel for Patrick Ellis and 21 members of the association. The only international payment company in the world.
He noted that all members must donate at least $ 10 million to be part of the Libera Network, but regardless of Facebook, other members have not yet donated the project. These donations will start in the first or second quarter of the project, Ellis said. Next year