FB Libra postponement also appealed the need for "China to come up with a similar concept" October 24 12:54
With regard to the crypto asset “Libra” that Facebook plans to issue, Zuckerberg CEO has shown the idea of virtually postponing the implementation of the concept at a hearing of the US Congress. On the other hand, while spending time on discussions about Libra, he pointed out that China would come up with a similar concept and appealed for the need to realize Libra.
Facebook plans to issue a crypto asset `` Libra '' as a `` new digital currency '' with the goal of the first half of next year, but regulators in each country are strongly concerned about measures against personal data protection and money laundering etc. It is shown.
In response, Facebook's CEO Zuckerberg testified at a hearing of the US House of Representatives on the 23rd, stating that "it will not be involved in issuing Libra anywhere in the world until it is approved by US regulators." The idea of deferring the realization of the concept was shown.
On the other hand, Zuckerberg said, “During the discussion, other countries in the world will not wait. China is moving quickly and will come up with a similar concept within a few months.” In other words, he referred to China to urge Congress to appeal for the need for Libra.
The hearing lasted for more than 6 hours with a break. According to the attending legislators, Libra was a loophole for criminals with money laundering, a problem for American security, and the world's key currency, the dollar Severely pointed out that it threatened the position of the company and, in turn, the effect of economic sanctions on each country would be impaired.
As for Facebook, a large amount of personal data has been leaked in the past, and 47 state and regional judicial authorities in the United States are investigating whether they are using a monopoly position to prevent proper competition. This also leads to a skeptical view of Libra.