Cryptocurrency News Update – September 14

  • PayPal Shows Full for Facebook’s Libra Coin
  • Libra Project Faces Hard Times
  • Facebook is still on track to launch Libra Coin by the end of 2020

Cryptocurrency News Today – A few months ago, Facebook made known its intent to come into the crypto space. The social media giant announced the launch of its digital currency – Libra Coin. Nevertheless, regulators have halted the launch of the coin and Facebook has been working to get the favor of regulators. Recently, one of the largest online payment processors in the world – PayPal – has been bullish about Libra Coin.

The investor relations vice price president of PayPal said that the Libra Coin of Facebook is consistent with the overall ambition of PayPal when it comes to banking the unbanked. She added that for the project to become something more than just an idea, a lot of work needs to be done.

PayPal Shows Full for Facebook’s Libra Coin

Libra Coin News Today – After the announcement of its digital currency, Facebook received many mixed reactions from the community and institutions. Nevertheless, the crypto project of Facebook is one of the most talked-about topics in the digital currency space. PayPal’s investor relation vice president – Gabrielle Rabinovitch – recently gave her opinion regarding the project.

She commented on the Libra Coin project, saying that it is a non-binding commitment. She said, “There is a lot of work to be done before it gets to the point where it becomes something more than just a very exciting idea.” The VP also said that the goals of the Libra project are in line with the goals of PayPal when it comes to banking the unbanked. In a statement, she said:

The ambitions and goals of Libra are pretty much consistent with the overall ambition of PayPal in terms of serving the underserved; democratizing access to capital.”

She concluded by saying that PayPal very much believes in the potential of Facebook’s Libra project.

Libra Project Faces Hard Times

The words of endorsement from Gabrielle Rabinovitch came at the time when the project needed it more. According to a recent report by The Independent, the Economy and Finance Minister of France – Bruno Le Maire – said that Libra might not work in the EU. He said that the country plans to block it in the EU due to concerns that it brings a threat to the dominance of national currencies.

Just yesterday, a report revealed that the head of blockchain policy of the CDU – Thomas Heilmann – said that the government would not allow projects like Facebook’s Libra. Regardless of all these setbacks, the crypto community is strongly behind the Libra project and they are being bullish about the project online. The general director of the Libra Association – Bertrand Perez – recently announced that they are still on track and the launch of Libra Coin is at the end of 2020.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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