The launch of Facebook’s Libra whitepaper and two websites that showcase what the digital currency created hullabaloo to the extent that one would have thought the digital asset would kill the whole cryptocurrency space entirely.

As experts have weighed in before, and still continue to do, there is nothing Facebook Libra will do to the entire space order than give the cryptocurrency space more credibility and bring in users who may be doubting cryptocurrency in general.

Binance CEO Says Facebook Libra Needs No KYC, But Offers Best Anti-Money Laundering Tool

As the world becomes more fearful of the impact of cryptocurrency in general, regulatory agencies and policymakers are condemning the Money-laundering nature of Bitcoin and so, demand that exchanges put KYC in place.

Some exchanges, for money laundering reasons, have been clamped down on by regulators.

Talking about Facebook’s Coin, Libra, there is no point doubting the fact that the digital asset has anti-money laundering measures in place, says CEO of Binance Zhao Changpeng.

His reasons are that Facebook has detailed information about its over 2 billion users more than they think.

CZ, as he’s popularly called, said Facebook knows the name, the ID, address and phone numbers of its users. In fact, CZ said Facebook knows every user’s family, friends and real-time/historic location.

Beyond that, he said Facebook know users more than they know themselves.

See his statement below: “Facebook Libra coin don’t need KYC. They have so much more data on the two billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like… They know you more than yourself. And now your wallet too. Best AML!”

Libra Has No Investment Value, But Will Make Crypto Popular

The needed adoption for the cryptocurrency industry may be heightened by Facebook Libra, says CEO of mining ViaBTC, Yang Haibo.

Although the cryptocurrency expert, said there is nothing much to expect from Facebook Coin, Libra, however, he’s sure the digital asset will enhance the popularity of Bitcoin and the entire cryptocurrency space.

Commenting on the latest crypto progress on Chinese social platform Weibo, Yang said due to Facebook’s global reach, cryptocurrency will see enormous number of new users. He said BTC, BCH, ETH, and other digital currencies will benefit from the launch.

Yang said Facebook Libra poses no risk to the entire cryptospace and has no investment value.