Zuckerberg Vows That Libra Will Work With Government to be Recognized by the Authorities

Facebook founder Mark Zuckerberg has indicated that he will cooperate with the government, hoping to get Libra to be recognized by regulators, “no matter how long it takes.” He said that the company is different from the past few years. They plan to share details of its services, ideas, and values to the public, 

Zuckerberg said in the Facebook quarterly conference call that no matter how much time it takes, it will respond to the problems of regulators, different experts, and stakeholders. They will also find the best way to continue to promote the project. Facebook and the other 27 Libra members jointly published a white paper to express their ideas.

At the same time, the commission also knows that in terms of cryptocurrency, it is very important and strict in regulation. There are many problems and the commission must address these issues. Zuckerberg also said that Facebook is trying to provide safe, stable, and well-regulated product, which will always be Libra’s development strategy and will continue to be implemented.

As we all know, Libra has been paying attention to regulators and central banks in many countries since its launch, causing a lot of concern. Recently, Alex Lipton, a researcher at the Massachusetts Institute of Technology, accused Libra of having “lifted” his ideas from a paper he wrote and published in July 2018.

This paper mentions a virtual currency that goes beyond the state and is backed by assets. Lipton believes that Libra is “reorganizing” the content of the paper to establish the current structure. “The Libra people cannot really say that they have not read that. Or, if they have not read that, they shouldn’t be probably doing what they are doing in the first place.” Facebook refused to respond to allegations from Lipton.