Since Facebook announced the launch of its digital currency “Libra”, which is You are under a lot of attack and the challenges increase To persuade governments and relevant authorities to accept the digital currency, Mark still has a lot of optimism and hope that Facebook’s digital currency “Libra” will change the world’s economic system.
Recently, a lot of global concerns have emerged about the danger of trading Facebook’s digital currency, “Libra”, through the following statements:

The US Treasury Secretary warns of the dangers of “Libra”

For his part, US Treasury Secretary Steven Mnuchin said in a press conference:

The digital currency “Libra” may be exploited by “money launderers and terrorist financiers,” stressing that this currency may pose a threat to national security, and the financial authorities must be convinced that it will provide high privacy standards.

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He stressed that he does not feel comfortable with the digital currency “Libra” and believes that Facebook is very far from obtaining approval by the US authorities.

Facebook in front of the US Congress

Congressman Maxine Waters has called on Facebook executives to testify before the US Congress.

Maxine Waters asked Facebook to stop developing Project Libra until lawmakers can properly study the project and take the necessary measures.

A Facebook representative said:

The company looks forward to answering lawmakers’ questions as this process moves forward.

Facebook indicated that Libra will not be launched until regulatory concerns are addressed.

New Challenges Facing the Libra Currency

In light of these challenges that impede the launch of its digital Facebook business “Libra”, the biggest challenge appeared, which is the decision of Germany and France to ban the circulation of “Libra currency” in the region.
A joint statement was published between Germany and France asserting that “no private entity can claim the monetary power, inherent in the sovereignty of nations”.
The French Finance Minister said:

New cryptocurrencies like Facebook should not be allowed to operate in Europe as concerns about sovereignty and ongoing financial risks persist

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Facebook did not respond to these specific statements, which could represent a source of danger to the future of the “Libra currency” in light of the fact that the company had previously announced that it would not start offering its new currency before obtaining the necessary approvals from the competent authorities.

• Facebook for investors: The digital currency project may be canceled due to regulations and regulations

Will Mark succeed in persuading governments and related parties to accept his digital currency and launch the “Libra currency” on time, or are the challenges greater than him? What do you think about the decision of Germany and France, and will other countries join them?