since the past few months, Facebook decided to launch its own coin, they have been a lot of controversies, as some compared the altcoin directly with bitcoin.
one of its major controversy is if it can upset the world economy, if not regulated. The worry of majority is prospective firm having as much power as countries in creating a means of payment.
According to Benoit Coeure, Global stable coin could boost competition in payment sector, reduce fees for consumer and support greater financial inclusion, but warned it might undermine the effort to clamp down on money laundering, terrorism financing and tax compliance.
Is Facebook launching a stable coin on a global scale without regulations harmful to world economy?
Imagine how much money will escape certain countries to facebook's pocket? Libra is a centralized crypto and the one who issues that coin will hold the power, such a thing is dangerous if they are just bunch of greedy people controlling some percent of world money, we got enough with all those ultra rich people that rule over more than a half the country's economy. Libra if not regulated will just add another problem, that's just my 2 cents. one of its major controversy is if it can upset the world economy, if not regulated. The worry of majority is prospective firm having as much power as countries in creating a means of payment.
According to Benoit Coeure, Global stable coin could boost competition in payment sector, reduce fees for consumer and support greater financial inclusion, but warned it might undermine the effort to clamp down on money laundering, terrorism financing and tax compliance.
Is Facebook launching a stable coin on a global scale without regulations harmful to world economy?
