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Is libra tipping the crypto scales?

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  • Is libra tipping the crypto scales?

    When Facebook announced plans last year to create its own digital currency, called libra, it was only a matter of time before lawmakers, already riled by the Cambridge Analytica scandal, would push back.

    Appearing before Congress in October, Facebook founder and chief executive Mark Zuckerberg laid out his pitch for libra: while politicians in the United States sat around debating the issue, the rest of the world wasn’t waiting. China, he warned, was already moving quickly to launch a similar idea. The ability to shape the future of cryptocurrency, and by extension preserving America’s global financial leadership, was at stake.

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    Facebook’s announcement of libra, its digital currency, sent ripples through the finance sector, but will it really be as impactful as expected