Facebook to regulators: We need your help with our cryptocurrency libra

Jul 10, 2019

Facebook has encountered a number of problems since they revealed the launch of their cryptocurrency libra next year.

Among other things, they have been urged by the US Congress to pause the project.

Now, they are asking for help from an unexpected place.

Writes a letter to Congress

David Marcus, chief executive of Facebook’s crypto subsidiary Calibra, has written a letter to the US Congress asking for help.

“We understand that big ideas take time. We want, and need, governments, central banks and regulators [to help us]”, the letter reads, CNBC reports.

The question is whether this will make politicians more friendly to Facebook’s project.

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