Facebook Mark Zuckerberg vows to win over Libra regulators however long.

“No matter how long it takes” to get regulators and others on board before launching the Libra cryptocurrency project, says Facebook CEO Mark Zuckerberg as he tries to state his company unrelenting effort to push forward on Libra cryptocurrency.

Speaking on Wednesday, during a quarterly earnings call the social media giant’s founder expressed determination as he assures investors that Facebook would act responsibly with its development of Libra, the ambitious crypto project publicised last month as a potential payments rail for unbanked individuals.

Last month, Facebook published it’s white paper in other to address certain issues and questions about libra as it worked with “prospective members” of its governing council, the Libra Association, to publish its white paper , “We’re committed to working with policymakers to get this right.”

Undoubtedly, it’s more likely that the first half of the 2020 the company initially aims to launch the currency may not be feasible, as the issues from regulators and politicians will obviously affect the time setting.

Zuckerberg said in his response to an analyst’s question about timing, that Facebook’s approach to Libra is “to try and have a very open dialogue,” and unlike a few years ago, when the company might have just launched a new product, but this days Facebook tries to detail what specific “ideas and … values we think an eventual service should have. Opinions, a lot considerations need to be talked over before any final decision. ”

Zuckerberg said, adding:
That’s certainly what we’re planning to do with Libra. As we worked with the 27 other members of the Association to publish the white paper to put the idea out there, expecting that this is a very important and heavily regulated area and a whole lot of questions are expected and we’re going to have to work through that.”

Zuckerberg’s comments collaborates with statements made by Facebook’s blockchain head, David Marcus. Marcus and Libra member Association Coinbase also testified last week during a back to back hearing in other to assure that Facebook will not launch until all regulatory questions have been answered. Though no indications from Marcus statement that Libra processes will halt entirely.

Zuckerberg concluded on Wednesday that “We are trying to provide stable, safe and well-regulated product, so this has always been the strategy and we are willing to follow the full course of everything ”


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Credits: Nikhilesh De


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