During Facebook’s quarterly earnings call, Mark Zuckerberg stated the company will work with regulators for “however long it takes” before launching Libra.
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“We’ve opened a period of, however long it takes to address regulators and different experts and constituents’ questions about this and then figure out what the best way to move forward is,” Zuckerberg said during Wednesdays earnings call.
“That’s certainly what we’re planning to do with Libra. So we worked with the 27 other members of the Association to publish the white paper to put the idea out there, expecting that this is a very important and heavily regulated area and that there were going to be a lot of questions. And we’re going to have to work through that.”
Last month, the company published Libra’s white paper in order to receive and address the concerns of regulators.
“We’re committed to working with policymakers to get this right,” Zuckerberg stated.
Facebook hopes to launch the cryptocurrency project by the Q2 of 2020, but the recent concerns of regulators may push the launch date back.
Zuckerberg’s comments reiterated previous statements made by Facebook’s blockchain lead, David Marcus, who testified before congress regarding the project earlier this month.
Marcus told lawmakers the company would not launch Libra until all regulatory obligations have been resolved.
“We are trying to provide a safe and stable and well-regulated product, so that’s always been the strategy and we’ll continue to engage here,” Zuckerberg concluded.