Facebook’s Libra could go live in January ’21

It seems, the USD-pegged stablecoin from Facebook, the libra could start in 2021 January. The FINMA, the financial authority of Switzerland will say the final word, but since the released white paper from ’19, the devs have changed many things for compliance. The project may start without any problem. When Facebook, or we can say, the Libra Association announced the Libra network, it caused a huge resistance from regulators, especially from the EU.

The most common critics were the risk to the financial and monetary stability and sovereignty of states. This risk does not appear in the case of any other stablecoin, so the real reason behind the ban, Facebook’s more than two billion users, as they are the biggest economy in the world. If their money will stay inside the platform, there will be a competition, where countries will be the weaker players.