Libra Can Fix The ‘’Failing’’ Financial System: Mark Zuckerberg

Russia will ban Facebook in the country if the United States decides to block the company’s Libra cryptocurrency according to a government official which we are reading more about in the Libra coin news today.During an interview with reports on Oct.22, Dmitry Peskov who is the special representative for IT for President Vladimir Putin confirmed the official position on Libra as well as Telegram’s prospective cryptocurrency-Gram:

 “If Libra launches without controls, or Gram, the likelihood of the scenario appearing in which we block (Facebook) significantly increases, not just in Russia but in every country.’’

According to Peskov, Russia will take its cue from the US regarding Libra given the long heritage that Facebook has. The government has already spent several months testing the executives including the CEO Mark Zuckerberg about the likely implications of the digital currencies:

 “But this… does not depend on the Russian government, but on the American one.Therefore it would be apt to direct your queries to the American government once it blocks Facebook and Telegram.”

Russia has already threatened to block Facebook, which has a limited following in the country because of the separate row over data storage. As it was reported, Russia will ban Libra as many other countries are starting to avoid the crypto project because of its many flaws. The authorities attempted to also block Telegram with almost no success and the Gram messaging service cryptocurrency is also subject to scrutiny from US securities regulator- the Securities and Exchange Commission. Gram raised up to $1.7 billion in the token sale to private investors in 2018 and the executives want to distribute the tokens by the end of the month before the SEC eventually intervened:

 “We allege that the defendants have failed to provide investors with information regarding Grams and Telegram’s business operations, financial condition, risk factors, and management that the securities laws require.’’

Libra has no official launch date but Facebook works to gain the regulators about its plans. Last month, France also revealed it will not allow a private entity to issue a fiat currency alternative while some of the principal backers have already pulled out.The post appeared first on DC Forecasts

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