Libra won't launch in 2020, majority of 2020 Outlook Survey respondents say
January 19, 2020, 10:20AM EST
1 min read
Most respondents to The Block's 2020 Outlook Survey believe Libra, the cryptocurrency project begun by Facebook, won't launch this year.
Of the 106 respondents – drawn from the worlds of venture capital investing, financial services, and the digital assets industry as a whole – 72 or 67.9% of them said "no" when asked whether Libra will launch in 2020. Thirty-four or 31.1% of participants said "yes."
While The Block's survey didn't focus on the possible factors that might determine whether Libra goes live this year, recent news developments around the project hint at potential headwinds.
Earlier this month, for example, the president of Germany's central bank, Jens Weidmann, called on banks to develop faster and cheaper payment offerings to counter Libra. In December, U.S. Federal Reserve governor Lael Brainard criticized the project, highlighting "a core set of legal and regulatory challenges."
The Libra Association, the project's umbrella organization, continues to press ahead. Last week, it established a five-member steering committee that will direct Libra's technical roadmap.
Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency.
The Canadian Securities Administrators, an umbrella group for securities regulators in the country, alongside a self-regulatory organization for the investment industry, has released new guidance for crypto exchanges on the use of social media as well as advertising and marketing.