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Russia to Ban Facebook if US Blocks Libra

Cryptocurrency

Putin’s representative ask us about the Libra

Speaking to reporters on October 22, President Vladimir Putin’s special representative Dmitry Peskov gave information about the President’s official position in the Libra and Gram’s potential cryptocurrency. He says,

“If Libra starts uncontrolled, or Gram doesn’t matter, the likelihood of the scenario we’re blocking (Facebook) will be similar in not just in Russia, but in every country.”

According to Peskov, given the face of the legacy of Facebook, there are better clues from the US.

There, the government has been urging executives, including Facebook CEO Mark Zuckerberg, to test the possible consequences of the digital currency for several months. He says, speaking ironically,

“But that doesn’t depend on the Russian government, it depends on the Americans.” 

“Therefore, it would be appropriate to direct your questions to the US government after blocking Facebook and Telegram.”

Russia has threatened to block Facebook, due to a separate situation in the country regarding data tracking.

Russia threatens once again

The authorities tried to block Telegram, although it was hardly successful. The cryptographic currency of the messaging service, Gram, is currently under review by the US Securities Regulator- the Securities and Exchange Commission (SEC).

Meanwhile, the release date of the Libra remains unclear because Facebook is busy organizing regulators.

Recently, France announced that it would not allow a private enterprise to issue an alternative to the fiat currency, while some companies that supported Libra announced that they had withdrawn from the project.

This is because PayPal, Visa, and MasterCard are likely to undermine their reputation by facilitating such a fiat alternative.

Some figures in the cryptocurrency world also think that the Libra will not enter the market early. For example, Brad Garlinghouse- CEO of Ripple, stated that Libra will not be on the market before 2023.

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