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[kingcolex]

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[avikz]

Well here we go another downfall of centralized crypto.

https://www.bbc.com/news/technology-48688359

The gist of it is that they want to fully look into and approve it before it launches. The issue is Congress is tech challenged, so let's just see how well this goes as it signals a bumpy start for the Libra project.


(Btw Libra? Really way to copycat your ex Winklevoss buds and their Gemini name)

That is going to happen in almost every country! Since FB is an US company so US lawmakers are getting their hands dirty first. Facebook will face a lot of regulatory challenges in majority of the countries, especially in Asia!

What Facebook is trying to achieve is to create and establish a global virtual currency with stable price which people can spend almost anywhere in the world. Facebook is trying to do it within the legal limits which bitcoin didn't care about! 2020 seems like a very stringent deadline for this!

[CryptoBry]

This is just another legislative inquiry and after the worries and concerns of "some" members of Congress are satisfactorily answered Libracoin can go on to fly into the sky roaring. There will be compromises, of course, as customary with the government. It is in fact good for the project to get the attention of those in the government when it is just starting so that a give and take exchange can be established at this early rather than have it when the project is already in full swing.

Mark and company should be worrying and concerned more if it will be the White House that will pull the strings on them. The whole cryptocurrency community should not be worrying on Libracoin as this is not going to be the main competitor of bitcoin -- yes, it is on a much lower and different level compared to bitcoin. But things depend so much on the rate of adoption.

[Zionatin]

More bullshit from America. Lol what in the hell is the matter with that country? They never know what they want. Right now everyone is jumping on the crypto train and the cannabis train. Crypto is similar to cannabis in the way these bastards want to get their thieving hands on it first. Crypto and cannabis is bad and lets make stupid laws about it then they change the laws due to pressure from the people only to use the new changes to help them gain. Look at the interest governments are having in cannabis investments all of a sudden? The same with crypto. They want to milk crypto for all its worth. America is always doing stuff like this. They don't actually know what they want. I mean... They want to build a freaking wall...

Government needs to stay away from our precious crypto. I am so glad I do not fall under US laws.

Well here we go another downfall of centralized crypto.

https://www.bbc.com/news/technology-48688359

The gist of it is that they want to fully look into and approve it before it launches. The issue is Congress is tech challenged, so let's just see how well this goes as it signals a bumpy start for the Libra project.


(Btw Libra? Really way to copycat your ex Winklevoss buds and their Gemini name)

That is going to happen in almost every country! Since FB is an US company so US lawmakers are getting their hands dirty first. Facebook will face a lot of regulatory challenges in majority of the countries, especially in Asia!

What Facebook is trying to achieve is to create and establish a global virtual currency with stable price which people can spend almost anywhere in the world. Facebook is trying to do it within the legal limits which bitcoin didn't care about! 2020 seems like a very stringent deadline for this!

It won't happen in every country you just said yourself it won't happen in Asia... -_-
Not every country in the world fall under "US law" or even recognise "US law" American law is not god.
"which people can spend almost anywhere in the world" really?
"Facebook is trying to do it within the legal limits which bitcoin didn't care about!" crypto doesn't care about the government or their laws that is the point of it. It's their laws, not our laws.

[chichidori]

Libra would be the first crypto that has a definite use case and will be known world wide, the downside is government will always try to control everything they can, a centralized and regulated crypto.

[target]

Libra would be the first crypto that has a definite use case and will be known world wide, the downside is government will always try to control everything they can, a centralized and regulated crypto.

They said is because crypto isn't fully regulated yet and that I think facebook can understand.

Facebook wanna fuck the financial system?
The government will fuck facebook over and over but this will also lead them establish a clear regulation about crypto. This could be a reason to fud and so finally there is something to play to make prices swinging. Libra coin weren't yet created but the panic starts.

[emmybd]

Facebook is very reputed organization, i believe they shouldn't do anything that's going to hurt their reputation. They have to be very careful in moving forward with Libra coin project.

[marcbitcoins]

With this development with the law makers i believe that LIBRA will be a big success once there is no more obstacle in the process. Congress will not react like this if they did not see something in this project in which FB is already in controversy before regarding data privacy. Anyway, this is their job for the welfare of their citizens.

[Cnut237]

I'm kind of surprised that they mentioned FB's history of abuse of user data as one of their concerns.

It really is a huge concern, I'm just a bit skeptical that this is the real reason for the US objection. I suspect they might be considering Libra to be a threat to the US dollar, and the user data thing is just a convenient way to object.

[Baihaki Khaizan]

in my opinion this is a dynamic and slowly congressmen will also approve it because both parties will go through the process and stages to reach a positive agreement word, I am sure Libra is an extraordinary project developed by Facebook

[Jpti]

There will be obviously tussle between the authority and the people. Authority always want to keep the people under control and want to seize their freedom. On the other hand, the people keep struggling for their rights. As a result, a tussle comes in the way. Authority want to suppress the democratic cryptocurrency. But the people want to keep it.

[localcrypto]

Inspite  of lot of rejections and backslash of Facebook Libra Libra still stay strong for over and above expectations in Crypto space which is a positive sign for crypto industry