Amid unrelenting regulatory pressure, Facebook warns investors Libra could already be doomed.
of criticism, not least from regulators and lawmakers in the US but also across the world, including from British, Chinese, and French central banks. In its filing with the US' Securities and Exchange Commission, the company said it was cognizant of the substantial pushback the project has received and says it expects that scrutiny to continue.
Facebook says significant regulatory scrutiny has made the project's fate uncertain. The tech giant admits the significant uncertainty around Libra means there can be no genuine assurance that the project"will be made available in a timely manner, or at all," per CNBC.
The company has also cited its lack of experience with crypto and blockchain as another hurdle to Libra's success. This lack of significant prior experience in the space could impact its ability to successfully develop and market the crypto and services related to it.
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