Libra Won't Spread as Fast as Facebook - Calibra Executive

Facebook’s Calibra Exec Libra Is More Like Email Than PayPal

According to him, the challenges Libra faced so far have to do with the California-based social media giant. But France and Germany said in September it posed risks to the financial sector, and backed developing a public alternative.

In accordance to Reuters, the draft text, also encourages the bloc to develop a common cryptocurrency framework.

The most controversial, and mind-boggling, statement in this episode comes from an ECB official who believes that customers could use this straight from the central bank's books and eliminate the financial intermediaries between the end consumer and the central bank.

European countries may urge the European Central Bank (ECB) to consider issuing its own digital currency, Reuters reports citing an EU draft document, prepared by the Finnish EU presidency and seen by the media outlet.

The draft suggests a ban on high-risk cryptocurrency and a strong hand of regulation for the others.

ECB board member Benoit Coeure said in September the bank should "step up" its thinking on a public digital currency.

They are all needed now to process digital payments, but might no longer be if the European Central Bank took over their functions, slashing transaction costs.

Boeing CEO Muilenburg 'has done everything right' says chairman
He earned about $13.1 million from a bonus tied to individual and company performance, and another $7.3 million in stock awards. In 2018, he received total compensation of $23.4 million, of which $20.4 million was in the form of stock and bonuses.

Until Facebook launched its project in June, regulators had largely ignored stablecoins due to their tiny size.

"As a member of the Libra association, we will continue to be a part of the dialogue to ensure that this global financial infrastructure is governed in a way that is reflective of the people it serves", a Facebook spokesman told the newspaper.

Canada may be the first to acknowledge that Libra is essentially Facebook's way of launching "new global currency". Moreover, just like everyone else, Australian regulators are anxious about the money-laundering issues and terror financing that might come together with the proposed digital currency.

While the same cannot be technically said in Australia, ASIC did state discussions are "still at a relatively early stage" though one way or another, Facebook and Libra will need to have its answers ready or risk failing altogether.

As per Markus Ferber, member of the EU Parliament since 1994, "the [EU] Commission has been way too complacent on the issue so far".

My only hope for them to actually launch Libra was to launch it in a bunch of small-and-medium-sized nations and bide their time and eventually, launch it in European ... and the American nation that are resistant.

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