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Facebook’s Libra Won’t Be Introduced In Countries That Ban Crypto’s Or Are Under US Sanctions

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Whilst it looks like Facebook will have to deal with some regulatory hurdles before rolling out, another stumbling block will be the country’s attitude towards cryptos and whether or not that country is under sanctions.

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Techcrunch spoke to a Calibra spokesperson who cited that sanctions and hostility towards cryptos is a no-no:

The Libra Blockchain will be global, but it will be up to custodial wallet providers to determine where they will and will not operate. Calibra won’t be available in U.S.-sanctioned countries or countries that ban cryptocurrencies

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Calibra rep

This is disheartening news if you’re a crypto enthusiast living in Zimbabwe which might be found wanting on both ends. Last year, the RBZ came out and spit in the faces of crypto companies (particularly Golix) and enthusiasts when they essentially banned Cryptocurrency trading. Unless there’s an explicit u-turn by the central bank between now and the time Libra comes to market it, it might be safe to assume that Libra won’t be coming to market for Zimbos.

The second issue is that of sanctions… Boy, don’t we know about sanctions and how they have become intertwined with the narrative of Zimbabweans.

This spells trouble for getting Libra in the hands of Zimbos and once you consider that you’ll have to verify your ID/Passport to sign up for Libra, it will be very hard for Zimbabweans (living in Zimbabwe) to find workarounds to sign up for Libra, if indeed these restrictions are in place when it finally does launch in 2020.


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5 thoughts on “Facebook’s Libra Won’t Be Introduced In Countries That Ban Crypto’s Or Are Under US Sanctions

  1. Zimbabwe is just an african version of North Korea without nukes. Our regime is letting us down.

  2. is there a country in the world whose Reserve Bank has officially allowed the use of cryptos?

    1. Maybe not, but there are ones who are leaning against it and Facebook might not want to focus on those countries

  3. Bitcoin had gained in recent days after a Facebook announcement regarding the launch of its own digital currency sparked renewed interest in cryptocurrencies.
    The social media giant unveiled plans for a coin that can be used across its vast network of more than two billion users who will be able to transfer money and purchase goods without fees.
    https://worldabcnews.com/bitcoin-plunge-btc-loses-1700-in-just-15-minutes-as-coinbase-website-crashes-city-business-finance/

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