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Bertrand Perez, the MD of the Geneva-based Libra Association, said talks were continuing with regulators from Europe and elsewhere to address concerns.

“When we (made) the announcement in June, that was our North Star,” Perez said of the June 2020 launch date, adding that a delay of one or two quarters would not be an issue.  

“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,”  

Last week Co-founder David Marcus spoke to Swiss newspaper NZZ, he said:

“The goal is still to launch Libra next year,” and “Until then, we’ll need to address all questions adequately, create a suitable regulatory environment.”

So there you have it Libra could be slightly delayed but they still plan to launch the new stablecoin next year. Libra will be backed by the major currencies of the world and a range of fixed-income assets. Interestingly, the Chinese Yuan will not be in the basket but GBP, JPY, EUR and USD will. There are sure to be plenty of twists and turns along the way so stay tuned for more updates.