Apple CEO Tim Cook said that he is not comfortable with private companies creating their own cryptocurrencies. Therefore, he ruled out plans of Apple releasing its own currency token. Though Facebook has announced plans to launch the Libra stablecoin, it is facing a lot of regulatory hurdles. Due to this, a few early backers of the project are reportedly planning to drop out, prominent among them being PayPal.
The United States House Financial Services Committee has announced plans to question Facebook COO Sheryl Sandberg about Libra and the company’s advertising policies. After this, the committee wants Facebook CEO Mark Zuckerberg to testify by January of next year.
Johan Tomasson, a senior analyst at dagx.live crypto trading platform believes that central banks will have to go the digital currency route in the future.