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Facebook warns investors that Libra digital currency may never see the light of day

Jul 29, 2019👎Bearish

Facebook reminded investors in its latest quarterly report that while it expects to launch its Libra digital currency in 2020, a number of factors could keep that from happening.

Since disclosing plans for Libra and Calibra last month, the company has faced criticism from public officials in the U.S. and abroad.

Earlier this month, Marcus testified before the U.S. Senate Banking Committee and the House Financial Services Committee and was grilled by lawmakers during both sessions.

“Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue,” Facebook said in its filing with the Securities and Exchange Commission.

“We know that the journey to launching Libra will be a long one and that we cannot do this alone,” a Facebook spokeswoman wrote.

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