General Impact on the Crypto Space
The Libra announcement is also great news for the crypto space in general, as another big
player enters the field and adds its weight to dispel some of the fears that people have
developed, after the Bitcoin debut, such as:
• thinking that all cryptocurrencies are volatile,
• equating using a cryptocurrency to gambling,
• thinking that most or all cryptocurrencies are illegal.
It is great news that such fears, may slowly dissipate through the contribution of another big player.
For example, the US Security Commission and the other Security Administrations around the world, may have another few billion people pressuring them to recognize cryptocurrencies as common utilities for trading and payments and not as securities or means of investment.
The Libra announcement at the moment is a great marketing move both for Facebook and for the crypto space.