Facebook will launch Libra encryption in limited format in January

Facebook will launch Libra encryption in limited format in January

Facebook is ready to launch its own Libra encryption currency in January.

“The exact launch date of Libra will depend on when the project receives approval to work as a payment service from the Financial Market Authority of Switzerland, but it can happen in January,” the newspaper writes.

It is noted that the launch of the cryptographic currency will take place in a limited format. The Libra Association will first issue one coin, which is secured by a dollar in the ratio of one to one.

In June 2019 Facebook announced plans to launch its Libra crypt currency. Initially, its launch at the global level was expected in the first quarter of 2020.

In addition, in April 2020, the company expected to launch digital versions of several currencies and “digital combination” of all launched coins. However, the regulators criticized this idea. Now it is assumed that other currencies and the “digital combination” will be launched later.

Earlier Russian Prime Minister Mikhail Mishustin said that digital financial assets in the country will be recognized as property. Their owners will receive legal protection from illegal actions.