Cryptocurrency Libra won't be launched until it gets approval: Facebook
Updated: 2019-07-17 13:11:34 KST
Facebook says it won't launch its cryptocurrency Libra until it's approved by the government and regulators amid various concerns over the digital coin.
At a U.S. Senate hearing on Tuesday, David Marcus, the head of Facebook subsidiary Calibra, said,. the virtual currency won't be offered until it has "fully addressed regulatory concerns and received appropriate approvals."
The launch of the new digital coin has triggered bipartisan concern in the U.S., due to the possibility of criminal use, privacy issues and impact on the financial system.