Facebook's digital
Facebook's digital

Facebook’s digital currency project, Libra, lacks a specific launch strategy in 2020,

Patrick Ellis,

a member of the board of directors of the Swiss-based Libera Association, told Reuters:

 There are currently no plans to determine how or where to launch the digital currency next year.

“At this stage,

there is no specific strategy for the market or for the product or how it will actually be deployed,

” said Ellis.

 When asked if Libera would actually be launched in 2020,

Ellis said: Yes, but the scope of Libra’s presentation,

due at the end of June, depends on talks with the organizers.

The controversial Facebook digital coin project raised great concerns around the world depending on its potential for use among the 2.4 billion Facebook users,

Regulators are alarmed by their potential root impact on the global financial system.

The Facebook officials who manage the project,

 Including David Marcus,

one of the founders of Facebook:

regulatory obstacles may see the launch postponed until after the launch date in June,

The regulators expressed concern about Libera’s ability to reduce countries ’control of monetary policy and destabilize financial stability worldwide.

The US Federal Reserve Governor,

Lael Brainard,

announced the latest concerns against the project on Wednesday,

 He says he faces a fundamental set of legal and regulatory challenges and the concept of a stable currency has not yet been proven.

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