Facebook, one of the world’s largest social media platforms, is on the agenda with news that it will launch its own cryptocurrency for almost 2 years, and the blockchain established with Zuckerberg’s instruction and David Marcus leadership Team was actually working for a cryptocurrency called Libra.
Libra has created a great surprise since it was first announced and the whitepaper was described. In addition to discussing whether this would be a Bitcoin (BTC) killer, many regulators and legislators had to agree that the Libra should not be given a real endorsement. New bad news from the European Central Bank officials came to Facebook officials who called for ‘ accountability ‘ to many events within the United States.
Libra has to be safe
European Central Bank board member Benoit Coeure recently told Reuters at the G7 Summit in France that it should prove that Stablecoin is safe for users before exiting the market, and added:
“From day one you need to be safe, sound and smooth. It’s not a learning process, it’s either useful or naughty. “
Referring to the fact that Facebook has been getting into trouble too many times in the past, Coeure has expressed that it is a big problem at the moment and that Libra cannot be released without adequate precautions.
Circle CEO Jeremy Allaire recently had important explanations about LIBRA and its regulation.