Recently, Ripple chief Brad Garlinghouse stated his opinion on the launching of Facebook’s Libra. He shared his in an interview with Fortune’s balancing the Ledger. Garlinghouse believes that regulatory matters will prevent Facebook from launching its cryptocurrency Libra for now.
When asked if he was positive about Facebook’s capability to launch Libra its cryptocurrency as earlier announced at the beginning of the year, he replied “No” and further stated, “Do I think they have the technical competency to do that? Sure; I think the regulatory headwinds they’re facing… are substantial.”
Although Garlinghouse is not having any of what Facebook has to say, he still stands on his words, believing that at least 3 years from now, the cryptocurrency will not launch. Facebook has promised to address any issues and concerns from both Government and private bodies when they arise. The team is still standing on the currency being released as previously planned.
Regulatory Issues Cited As Major Concern For Setback
Still, on his stance, Garlinghouse stated “If I were a betting man, I would take an Augur bet… I think there’s a time-based element on Augur as well, so I’ll say… the end of 2022, I think Libra will not have launched.” His stance is based on the several issues the Government has identified with Facebook globally over the plan to have its digital currency.