Facebook's Libra could lead digital currency adoption says Huobi CEO

17 Jul, 2019
by Ryan Boltman
Analysis
Facebook's Libra could lead digital currency adoption says Huobi CEO

Facebook's cryptocurrency project Libra is currently under the microscope with the U.S Senate Committee hearing under way.


With the U.S Government taking notice of Facebook's move into cryptocurrencies, Libra appears to have caught the interest of the World according to Huobi crypto exchange CEO Livio Weng. 

Weng took to Twitter following the U.S Senate Committee hearing on Libra Coin, saying that the project has opened the eyes of Governments across the globe as digital currencies become more popular, "Libra is now taking a more proactive approach to embrace regulation. Our research shows many governments and regulators have started working on digital currency because of Libra. Cryptocurrency is an irreversible trend" Weng stated. 

Libra appears to have woken up regulators and Governments across the World about the possibilities that digital currencies have, with many Governments looking at utilizing their own digital currency for easier remittance. 

All eyes will be on Libra and the U.S Senate hearing as Libra continues to push for launch after massive backlash from Governments. Donald Trump recently also commented on Libra showing his displeasure towards both Bitcoin and Facebook's Libra project.

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