Facebook’s long-awaited cryptocurrency was made official yesterday, with the social media giant publishing Libra’s whitepaper, ending months of speculation. According to the whitepaper, Libra would be launched in the first half of 2020. This could end up as a pipe dream, if regulators have their way.
Per reports from the BBC, the U.S. House of Representatives’ Financial Services Committee wants the social media giant to put its crypto plan on hold. Rep. Maxine Waters (D-CA), the Committee’s Chairperson, argues that the social media giant should wait for the legislators to examine the asset before making further announcements.