Libra crypto may never launch due to regulatory scrutiny, warns Facebook

Social media giant Facebook has now itself warned that Libra cryptocurrency may never launch due to “significant” regulatory scrutiny.

“There can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all,” the company's risk disclosure section from its latest Q2 report filing with the SEC read in part.


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“Uncertain and evolving” laws and regulations surrounding cryptocurrencies and investigations from regulators around the world may “delay or impede” the launch of Libra, it added.

Facebook also stated that it does not have “significant” prior experience with cryptocurrencies and blockchain technology, which could “adversely” affect its ability to successfully develop and market such products.

“We will also incur increased costs in connection with our participation in the Libra Association and the development and marketing of associated products and services, and our investments may not be successful. Any of these events could adversely affect our business, reputation, or financial results,” the social media giant concluded. 


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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.