Rating company: Facebook's Libra may encounter further regulatory obstacles

According to The National, recently, SP (Standard & Poor's) global rating company report that Facebook's Libra cryptocurrency is unlikely to become a reserve currency, as it may not receive the necessary regulatory approval. “Libra solves some of the major issues associated with cryptocurrency as a means of exchange and value storage. If successful, it may disrupt some financial services activities—most directly, payment and money transfers. The main obstacle we see in its success is that Whether it will receive the regulatory approvals required globally. We expect some differences in the regulatory stance."