When Facebook announced its Libra digital currency project several months ago, the company expected to launch its Libra token in June 2020. According to Libra Association managing director Bertrand Perez, however, that launch could be delayed as the project’s backers work to allay regulators’ concerns.
In an interview with Reuters, Perez suggested that everyone involved with Libra was prepared for a possible delay until the fall or winter, if necessary. He also stressed that the current focus is on ensuring that regulators are satisfied with the project’s legal compliance and on-board with its goals:
“What is important is that we need to comply with the regulators and we need to make sure that they are on board with us and fully comfortable with our solutions.
We knew that we would have to answer lots of questions coming from regulators on both sides of the Atlantic, and from other parts of the world.”
Perez also reaffirmed the Libra Association’s status as an independent decision-maker tasked with overseeing the digital currency project, and noted that Facebook is just one of 28 association members – each of which has an equal vote in the decision-making process.