Speaking in an interview with Swiss newspaper NZZ, Facebook’s David Marcus said: “The goal is still to launch Libra next year,”.
“Until then, we’ll need to address all questions adequately, create a suitable regulatory environment.”
So it seems they are taking the requests seriously. A few weeks ago the Swiss and US authorities had asked Facebook for more information about data protection and regulation. Speaking about the use case of Libra Marcus said:
“It’s unlikely in any case the people will pay for an espresso in Switzerland, Germany or France with Libra in the future,”
This comment came after French and German officials scrutinised plans by Facebook to launch. The French are particularly worried about the effect Libra may have on traditional monetary policy.
In the interview, Marcus said, “it was unlikely Libra coins would become a means of payment for regular real-world transactions in countries like Switzerland, Germany or France, but would rather be used for cross-border payments or for settling very small sums”. So it seems the banks have something to worry about.
Marcus did confirm the Calibra digital wallet would be made available everywhere that it is able to meet regulatory requirements.
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