Facebook Libra Can Refine the Classification, in Dollars, Euros and Pounds

As the cryptocurrency Libra project is being more and more questioned. David Marcus, the Facebook executive, said that Libra can pass different legal currencies. Linked, subdivided into US dollar stable currency, Euro stable currency, and Sterling stable currency. Instead of the original proposed stable currency.

Marcus said that the main goal of the Libra Association is still to create a more efficient payment system. But it is open to finding alternatives to using Libra. He said: “We can achieve this goal by having a variety of different stable currencies. These stable coins represent the currency of each country in the form of digital tokens. This is one of the options that should be considered”.

But Marcus clarified: “This is not to say that the stable currency linked to fiat money is the new best choice for the association. We are concerned about how to achieve the original mission, there are many ways to help, but Libra needs to show flexibility. Sex”.

Facebook’s proposed Libra project suffered major setbacks earlier this month. With founding members Strive, eBay, PayPal, Mastercard, Visa and Booking Holdings exiting. Global policymakers and regulators are also concerned that creating a new, comprehensive global cryptocurrency could disrupt the global financial system, threaten users’ privacy, and facilitate money laundering.

Marcus said that Facebook’s goal is still to launch Libra in June 2020. But acknowledged that due to regulatory obstacles, it may not be able to achieve this goal as planned. He said: “Unless we resolve all reasonable concerns and obtain appropriate regulatory approvals, we may not be able to achieve the desired goals”.

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