It was in March when The New York Times gave the exclusive that Facebook was preparing to launch its own cryptocurrency, dubbed Libra. In fact, according to the media, users could already have it in their possession by the end of this year or early 2020.
Libra will initially have two clear and defined functions: transactions between individuals and payments . Although it is expected that more financial services will be offered to users in the future.
Reports published in the first week albania phone number f July by Moody's and S&P Global warned that this launch could accelerate the market share of electronic payments over cash and checks. The payment infrastructure is also expected to accelerate , according to analysts.
That same week, the US financial authorities requested , through a letter, the suspension of cryptocurrency due to the risks it entails for national security. The idea was to be able to evaluate the risks arising from the lack of regulatory protection for these virtual currencies, before they are put into 'circulation'.
The European Union investigates anti-competitive behaviour
At the end of August, the European Union joined the wave of petitions against Facebook . The European Commission is said to be investigating "potential anti-competitive behaviour" and the possibility that the proposed system could exclude potential competitors. The concern is said to be focused on possible restrictions to competition in the area of information that would be exchanged and the use of the data that would be collected.