“Libra Association is still active” Facebook quotes.

Facebook are reconsidering their move to have their own digital currency because of the resistance from regulators. According to Bloomberg and tech site The Information, now Facebook is thinking about introduction of a system with digital versions of available currencies including Dollar and the Euro.

Furthermore Facebook stated that “The Libra association will be active”. The association was founded by them to create their own digital currency.

The reports expected the launch of digital wallet of Facebook to open this autumn. And that is few months away from the initially planned date.

Earlier there were reports which stated that Facebook might drop Libra project because of these uncertainties. But now it says else.

Last June, the social media giant announced the launch of Libra Digital Currency. According to them this could make the payments much easier and cheap. Facebook partnered with Lyft, Spotify, Shopify in the Libra Association. Unfortunately when the idea was not accepted by some authorities, some members like “visa” left the association.

The head of Policy and Communications at the Libra Association Dante Disparte said that the Libra are still working on building a payment network accepted by all authorities. And also he went on to say, neither the principals supporting the system nor its potential to foster future innovation has changed.

In last October, the world's biggest economies warned about crypocurrencies as they could be a risk to the global financing system. France was also against this whole concept saying that it threatens the “monetary sovereignty” of the governments. Some are also of the view that this may give a good exposure for illegal acts including money laundering