Libra Association Leader: Libra will be launched as scheduled in the second half of 2020

The head of the non-profit organization behind Libra, the Facebook digital currency, said the company will launch the currency as scheduled and remove regulatory barriers.

Libra

Perez: Libra will be launched as scheduled

In an interview with French media on September 12th, Bertrand Perez, head of the Libra Association, said that the token should be launched in the second half of 2020.

"We will launch this digital currency between the end of 2020 as originally planned."

On the same day he made the above remarks, the French Minister of Economy and Finance stated that the country would refuse Libra to operate in the country.

Due to concerns about financial stability, French Finance Minister Bruno Le Maire believes that Libra is a threat to the monetary sovereignty of governments, and it seems to want to develop an EU policy that is hostile to Libra.

However, Perez said that Facebook does not want to create a new money supply through this token. He compared Facebook to BlackRock, the world's largest asset management company, and said the social media giant didn't want to compete in this market.

"We don't want to be a new version of the Blackstone Group."

“Because of this, we believe that concerns about the stability of our reserve currency that may affect the legal currency of central banks (in our currency basket) seem to be unfounded.”

Facebook will solve the government's concerns

Perez also confirmed that Libra will be linked to some of the major world currencies (US Dollar, Euro, Japanese Yen, British Pound and Singapore Dollar) when it is launched, but it does not include the RMB. At present, the R&D of the Chinese central bank's digital currency is in full swing, and it also expressed concern about Libra.

Perez said the association is “fully aware of” issues related to money laundering and terrorist financing and will work with regulators to address these issues. Perez believes that all regulatory issues can be solved before Libra goes online.

"In the year before the release, we can solve all the problems."

The Libra Association is currently based in Switzerland and has offices in the United States, which will enter other European and Asian countries in the future.