Facebook may launch Libra in early January next year, but the situation is different
Facebook may launch Libra in early January next year, but the situation is different

The Financial Times reported on Friday that Facebook's cryptocurrency (Libra) is ready to launch in early January, citing three unknown persons involved in the project.

According to a person familiar with the matter, the Financial Times said: The Geneva-based company (the Libra Association) will issue and control the cryptocurrency and plan to launch a unique digital operation backed by the US dollar.

Compared to the plan announced last April, the move will significantly reduce the ambitions of the plan in response to strong organizational and political opposition to the project.

The scale, unveiled by Facebook last year, has restarted in the form of an easing after global regulators and central banks raised concerns over concerns that it could damage financial stability and undermine the current regulatory authorities for currencies.

The Libra Association (Facebook one of its 27 members) is applying for the Swiss Market Watch to obtain approval to issue a series of fixed coins that are secured in standardized standard currency and tokens based on fixed coins at a fixed exchange rate.

According to a report by the Financial Times, the new agency plan will introduce complex currencies as well as other currencies backed by traditional currencies.

A report released last October stated that financial leaders in the world's seven largest economies were opposed to introducing a "scale" before proper regulation.

According to the report, Treasury ministers and central bank governors in the United States, Canada, Japan, Germany, France, Italy and the United Kingdom believe that digital payments can improve access to financial services and reduce efficiency and costs.

Stable currencies should avoid the fluctuations typical of cryptocurrencies like Bitcoin, which in theory makes them more suitable for payments and transfers.

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