Facebook is trying to persuade European regulators to allow digital currency Libra

France and Germany have already promised that they will not let cryptocurrency Libra into Europe.

The Libra Association, which is supposed to launch the Facebook-developed cryptocurrency Libra and manage its turnover, is in talks with European Union regulators. Director Bertrand Perez told about this Reuters today.

“Discussions (with EU regulators) are ongoing, and we still need to work with them and all other regulators in the world” – Perez said.

Facebook and other members of the association, which includes Vodafone, Mastercard, Visa and PayPal, announced plans in June to launch next year a digital currency backed by a reserve of real assets. These plans attracted the close attention of the authorities of Europe and North America, while France and Germany pledged to block Libra in Europe.

cryptocurrency

Perez, previously a senior executive at PayPal, said the association is currently focusing on meeting regulatory requirements. According to him, progress in this area will determine whether the digital currency will be launched in accordance with the schedule in June 2020. Currently, the association plans to intensify its activities, including “significant” expansion over the next two quarters, including through the involvement of specialists in regulatory requirements and technological development.

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