Facebook has warned its investors that the launch of the announced stablecoin Libra may be delayed indefinitely or not at all..
In its latest quarterly report, Facebook told investors that it plans to release its cryptocurrency next year, but also pointed out some factors that could prevent it..
Why Facebook’s Libra Cryptocurrency Is In Trouble
In the section on potential risks, the company describes the many obstacles associated with the regulatory uncertainty of new technology in various countries, including the United States. Adding that excessive regulatory scrutiny can negatively impact business, reputation and financial performance.
As such, Facebook cannot guarantee that Libra and related products will be released on time or that they will launch at all..
The company’s chairman said that engaging with regulators, policymakers and experts is critical to the success of a stablecoin. That is why the social network so early publicly announced its plans..
While Facebook does not make any guarantees regarding the release of its cryptocurrency, it is not giving up. Mark Zuckerberg said last week that the company will spend as long as it wants to get approval for the Libra launch..
text: Ivan Malichenko, photo: twimg