Facebook’s digital currency Libra may never hit the market. According to a report released by CNBC on July 29. Facebook warned investors that the Stablecoin they are currently developing may never launch.

Libra May never hit the market why?

Libra, is a digital currency whose release Facebook announced on June 18 this year but now alerts its investors of the possibility that it may not be launched.

The latest quarterly report released by Facebook, recently implies that the virtual currency could face some challenges that would not allow it to be launched next year.

Will libra be launched next year? Or will it ever be launched at all? Facebook will have to make agreements and follow different trade rules and regulations from regulatory agencies spread across the globe.

Facebook libra may never launch????

Facebook acknowledges that dealing with the regulations might be a tough one.

Many regulatory agencies around the world including the United States which is the home of Facebook has shown fear of uncertainty. The impacts that the digital currency could have on the global economy is their main concern.

Can the Facebook libra project really affect economies around the world negatively? Well to answer that question we have to consider bitcoin and other altcoins, what is their impact on the world economy? I personally think they have thrived 

A Facebook spokesperson told CNBC on Monday:

“Engaging with regulators, policymakers, and experts is critical to Libra’s success. This was the whole reason that Facebook along with other members of the Libra Association shared our plans early.”

Bitcoin has not seen much price movement lately. The altcoins are pretty slow too with Zec XMR and LTC having the least movement.

All things being equal, Libra should be launched as a Stablecoin backed by fiat currencies from different countries like the U.S. dollar, the Japanese yen, the British pound and the Euro.

The idea is to use it to perform payments between WhatsApp, Messenger and Calibra users.

Despite all obstacles, many experts consider Libra virtual currency as one GREAT potential, one with the potential to help individuals process financial transactions and services without having to rely on bank accounts.

This is seen by many as something that could drive the start of new online businesses while others, on the other hand, think it may actually promote cybercrime, more breeding ground for hackers and so on. 

Regulators in Europe, Asia, and North America have already given their opinion about this crypto project. Indeed, the U.S. President Donald Trump wrote a tweet in which he says that if Facebook wants to offer financial services to users it will have to comply with banking regulations as many other companies.

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