Topic: is this because of libra ? (Read 573 times)
I don't think it's because of libra because until now libra hasn't been released and we also don't understand the impact of this libra coin. I think this statement arises because of the many altcoin projects that are scams and also the presence of stable coins such as USDT, trueUSD and MNX. I think they want to protect investors to stay safe in investing in cryptocurrency.
This is just a stablecoin problem, Libra is also included stablecoin but not as a trigger. Because Libra itself has not been released to the public despite the existence of regulatory issues.
If the Swiss Federal Council observations that stablecoin and blockchain get a positive value, I am absolutely sure that Europe will apply it gradually. Because stablecoin can be very suitable for practical currency usage. And moreover, the blockchain can be implemented to form the existing human needs system.
If the Swiss Federal Council observations that stablecoin and blockchain get a positive value, I am absolutely sure that Europe will apply it gradually. Because stablecoin can be very suitable for practical currency usage. And moreover, the blockchain can be implemented to form the existing human needs system.
Libra really gives a big influence on the condition of the crypto world. However, to influence this kind of condition as you said, I don't think that it is really because of Libra at all. It may be, but of course, they have their own reasons why they need to monitor the blockchain and also a stable coin.
In this case, every country has their determination to face the blockchain and crypto development. We can only follow the flow.
In this case, every country has their determination to face the blockchain and crypto development. We can only follow the flow.
This can be true. Much unhealthy news is speculating related to libra. That why I believe libra is not a good option for investment.
As Facebook itself said, that libra was created not as an investment asset but as a means of payment that could replace fiat money like the dollar, so that this would not allow a significant rise in prices on Libra coins, so that it would not benefit the holders of coin libra because they are undeveloped (stabil), are different from cryptocurrency which is indeed fluactive to market movements, so that the makes crypto an investment choice, and we know that a good investment must provide an advantage for its investors It must be due to libra. They see it a threat when its release and they know how tether were being used to manipulate. Facebook is no different to a government powerful enough to manipulate politics not just the media and all the more if they have the currency to play with. Would be seeing European countries not going to be friendly to crypto in the coming days?
This can be true. Much unhealthy news is speculating related to libra. That why I believe libra is not a good option for investment.
I do not think Libra is actually even affecting the way that people are accepting cryptocurrency and I don't even think that government ever see Libra project as cryptocurrency because it looks to me like Libra has a hidden agenda that people do not know of yet and I think Facebook is just trying to create a product to be able to take some financial power form the government which I see as a way of dealing with government because of the several attack they have given to Facebook as regards its platform. I see no reason why Facebook coin actually should be release because the solution they claim they are even bringing has never been a problem to us, and since people don’t see what they claim as issue problem, there is no need for them to waste their precious time on Libra.
This can be true. Much unhealthy news is speculating related to libra. That why I believe libra is not a good option for investment.
Yea, u think Libra opened the eyes of many people and Governments that were ignorant of the existence of Blockchain technology or those who just choose to ignore it and hope it goes away, I just hope these new coins and innovations and regulations by Governments worldwide would trigger an altszn.
Probably not in particular.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
Without the support of the government, Libra coin is still constrained by regulations in several countries. If you get approval from financial and government authorities, I think the potential of Libra coin is very large because it is supported by the large number of Facebook members worldwide.
The problem here is that they *aren't* getting any approvals from financial regulators.
If they did, then yes, there is no doubt that there is significant potential here for widespread adoption. However, right now they don't have the support of the decentralised crypto community nor the regulatory authorities, a double whammy.
Unless they can somehow fix that, they're not going to find success the same way Wechat or Alibaba did in the Chinese market.
The introduction of Libra definitely helped many governments worldwide to wake up to the fact that Cryptocurrencies exist and it's getting real and better with each passing day, the hype surrounding Libra has opened the door for the good ones f Cryptocurrencies in general and even though there are major obstacles that Libra faces, good things came out of it afterall like the incident in China.
Such a statement by the Swiss Federal Council is typical of all states and is unlikely to be related to the possible release of Libra coins or the existence of other stable coins. In any case, all states will coordinate their actions in the field of cryptocurrency use and at the same time, uniform rules for their legalization and circulation will be used in general. Such a statement is simply a confirmation of the general course towards international cooperation in the field of cryptocurrency application.
In my opinion so, of course, Libra is a threat to Fiat, because Libra is a stable coin like fiat.
Libra also has enthusiastic many crypto people because it is supported by Facebook one of the largest social media.
There must be such a positive and negative impact, just look at it later.
Libra also has enthusiastic many crypto people because it is supported by Facebook one of the largest social media.
There must be such a positive and negative impact, just look at it later.
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
Most probably yes. They are crypto friendly to the extent that Bitcoin is already there and cannot be moved out of its place because it has already rooted very deeply. They do not have much choice but to extend a friendly hand. However, to the stablecoin that is to be launched by libra they cannot just sit down and see what happens to their old fiat money. Libra is not like the rest of the stablecoins that seem to be operating without a threat. Libra is going to suck commercial transactions from their old system into its new system. They cannot accept that.
I think Libra platform just wants to try to get the trust of many investors so that such statements appear, hopefully investors can return to cryptocurrency again and can make the price conditions recover and libra can be used by many platforms.
I think its just a reminder, stablecoins are been around for years. Maybe due to the growing numbers of companies offering stablecoins made regulators keep an eye on them because it can also be use to attract and deceit investors. Its good for the ecosystem, we need a government approach lik this to protect us.
they are talking in a holistic point, not directly because of libra coin. Stable coins is a potential market convertion for a nations fiat, as the economy will still be controlled in order to prevent market malfunction. At this time, it isn't necessary for us to fear about this. Everyone thinks of innovation and I think the people at higher consitition is now doing their best to achieve fiats digitization which is remarkable the best for us in cryptospace.
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
They should do this a long time ago not because Libra is coming to the picture, and they should have an announcement like this years back but it's not yet late, now people are connecting it to Libra coin, because of the impact that is going to create in the ecosystem, I think other regions will follow this lead. The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
A lot of odds happening against Libra. Since it is coming at the time that Libra is about to be launched, then it might be against it. Although, this will also serve as blockage for other forms of stable coin that might want to launch in future.
Maybe because with the existence of Libra Coin can disrupt the dominance of the dollar in the world. Facebook has members spread all over the world while many transactions are currently dominated by online transactions, so the government will definitely try to block it.
Probably not in particular.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
Without the support of the government, Libra coin is still constrained by regulations in several countries. If you get approval from financial and government authorities, I think the potential of Libra coin is very large because it is supported by the large number of Facebook members worldwide.
Probably not in particular.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
A lot of odds happening against Libra. Since it is coming at the time that Libra is about to be launched, then it might be against it. Although, this will also serve as blockage for other forms of stable coin that might want to launch in future.
It is actually good for all the cryptocurrency enthusiastic people because there are many here saying centralised marketplace is the best option to make the safety investment.
But the truth is not like that. Decentralized market is the actual power every laymen gets.
That's why even government cannot shake the value or market of decentralised cryptos.
But the truth is not like that. Decentralized market is the actual power every laymen gets.
That's why even government cannot shake the value or market of decentralised cryptos.
No one would make such a big statement. I think it's all thanks to Libra and facebook. Mark Zuckerberg is a genius. It has created a huge buzz around its cryptocurrency. Also helped institutional investors on the similarity of PayPal, Visa and so on. If it weren't for such big names, the regulators would continue to hibernate. I believe that this is very good and there is a great cryptocurrency future ahead of us. And Yes Libra has every chance to become the largest stablecoin!
Cryptocurrency has been existing for a very long time now, and now becoming much more popular, and as it is growing in popularity, the governments are meant to come up with any decision concerning it at any time, so this decision may actually not be because of Libra coin exactly, it could have been for so many reason.
There are so many stable coins, and Facebook has never revealed if their coin will be a stable coin, we have been the one exaggerating that Facebook coin will be in form of a stable coin, there was a point where Facebook also made a claim that their coin will operate same way as bitcoin and be able to yield profit for those that invested in it, so this decision may and may not be because of Libra but because of the general blockchain technology.
There are so many stable coins, and Facebook has never revealed if their coin will be a stable coin, we have been the one exaggerating that Facebook coin will be in form of a stable coin, there was a point where Facebook also made a claim that their coin will operate same way as bitcoin and be able to yield profit for those that invested in it, so this decision may and may not be because of Libra but because of the general blockchain technology.
There is no specification and indication which is then responsible to this, whatever the case is this initiative would bring a good result to this platform, It could be the reason or Libra coin, or maybe not, I think with this type of step makes the investors comfortable and safe because of the stable coin attraction, of course it's a good thing for both investors and entrepreneurs, if there will be a set of proper regulation then people will come to this platform easily because scam and fake project will not be allowed and the sustainable development of this platform will be ensured, I this is very useful to this platform for the future purpose. I also hope that Libra will bring a lot of positive impact in the future.
The reason is just not Libra but it's all because of the scam projects happening for over several years now in the crypto space. All that happened already tarnished our image and the government/SEC already placed a bulls-eye on top of our heads, especially the big projects like Libra. And we as a community can't be blamed to somehow trust them, John mcafee endorsed a scam project last year and the team is already facing court charges because of what happened.
We need to do our due diligence of researching the project and not get driven by pure emotions because of news/sentiments going on. Especially if you're already in the space for so very long.
We need to do our due diligence of researching the project and not get driven by pure emotions because of news/sentiments going on. Especially if you're already in the space for so very long.
It's not about Libra, Libra maybe affected on this news but they really intend to look and regulate cryptocurrencies and stablecoins as well blockchains, since hey see possible ways that scammers and their government will be affected by this event if ever happens. More governments are planning to do this to monitor atleast stable coins that are backed or operated by an institution or organizations.
The government must be not accepting cryptocurrency because if cryptocurrency growing so fast the banks will be bankrupt i'm sure because no one will deposit their money to banks.
So, if any large company want to develop cryptocurrency the government will prevent them. This is my analysis
Possibly and I think they are seeing that stable coin involves big money also, so if they will restrict Libra from operating, that's being unfair since Libra is classified as a stable coin. Either they are planning on banning stable coin which is good for crypto since it's really the purpose of crypto to be volatile with fix supply and decentralized, I don't know but one thing in my mind now that tells me Libra will soon be in the market as they cannot ban all stable coins therefore allowing Libra but with strict regulation on general stable coins market.
Yes, sooner or later, Libra will gonna be in the market. We are only waiting for the time to hit them in the market. I don't think Zuckerberg will give up that easily. If other companies can create their own stable coin, why not him? He has all the resources that he can use to make this happen. The government is too strict with him because of his status in the industry.
We will eventually knew it by next year because it was scheduled to be launch in 2020.
if this launch will be successful, it might help to boost the market as next year also is a schedule of bitcoin halving which we usually see some significant increase based on the past trends.
yeah i guess so because libra is not an unknown coin, i mean he was backed up by facebook one of the social media giants facebook, and also libra has formed many collaborations with others.
of course it is a threat to fiat, because the libra that comes out later is stable coins with the same value as USD.
if the arrival of libra later exceeds people's enthusiasm for crypto, the government has prepared efforts to carry out these regulations, whether it will cause conflict or not, we'll see.
of course it is a threat to fiat, because the libra that comes out later is stable coins with the same value as USD.
if the arrival of libra later exceeds people's enthusiasm for crypto, the government has prepared efforts to carry out these regulations, whether it will cause conflict or not, we'll see.
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies...
Is this because of Libra?
I would opine that Libra has been a big concern for many countries including those which are regarded as very friendly and open to innovations of Bitcoin and cryptocurrency. However, in fairness, we should not lay all the blames to Libra as there are many stablecoins operating in the market right now and there are always related concerns when we talk about cryptocurrencies. As a disruption force to banking, finance and economy, it is the duty of any country to always monitor things happening and developments that can possibly affect the pillars of one's economy so they can react and manage things effectively and timely.
We know that Libra Association had chosen to be headquartered in Geneva, Switzerland but this does not mean that the Swiss government will be complacent in its monitoring and watchman job. The government is always looking at things including the Libra project. This interview with Mark Branson the director of the Financial Market Authority (FINMA) can give us some glimpse on how the country is looking at Libra and the possible risks (as well as opportunities) that it is posing to its economy and other traditional systems.
It's not about Libra, Libra maybe affected on this news but they really intend to look and regulate cryptocurrencies and stablecoins as well blockchains, since hey see possible ways that scammers and their government will be affected by this event if ever happens. More governments are planning to do this to monitor atleast stable coins that are backed or operated by an institution or organizations.
This is not because of Libra or some other coins, they just want to make sure that no company will go against the rules. If they won't make a move about it, the other company will just ignore their warnings and continue to unfollow the rules and regulations. The continues monitoring of the Stablecoins and some other crypto-related things are just part of their jobs.
I think its just a reminder, stablecoins are been around for years. Maybe due to the growing numbers of companies offering stablecoins made regulators keep an eye on them because it can also be use to attract and deceit investors. Its good for the ecosystem, we need a government approach lik this to protect us.
Maybe somehow. I think not just because of Libra, but also other big projects that concern some risk in the legalization or better improvement of this industry.
Of course European country will be alarm by how Libra is planning to launch a world wide phenomenon project which is based on US. You know how facebook is scrutinized due to its privacy issue right. Many people think especially in the cryptocoomunity that Libra could somehow attempt to do what happened on Facebook.
Of course European country will be alarm by how Libra is planning to launch a world wide phenomenon project which is based on US. You know how facebook is scrutinized due to its privacy issue right. Many people think especially in the cryptocoomunity that Libra could somehow attempt to do what happened on Facebook.
Yes, sooner or later, Libra will gonna be in the market. We are only waiting for the time to hit them in the market. I don't think Zuckerberg will give up that easily. If other companies can create their own stable coin, why not him? He has all the resources that he can use to make this happen. The government is too strict with him because of his status in the industry.
I really dont think it will happen soon since some of their backers dropped their support besides US and other countries regulators are putting on the pressure to Libra. Crypto exchangers wouldn't list libra because they may also get sanctioned and get investigated for getting involved with Libra.
Possibly and I think they are seeing that stable coin involves big money also, so if they will restrict Libra from operating, that's being unfair since Libra is classified as a stable coin. Either they are planning on banning stable coin which is good for crypto since it's really the purpose of crypto to be volatile with fix supply and decentralized, I don't know but one thing in my mind now that tells me Libra will soon be in the market as they cannot ban all stable coins therefore allowing Libra but with strict regulation on general stable coins market.
Yes, sooner or later, Libra will gonna be in the market. We are only waiting for the time to hit them in the market. I don't think Zuckerberg will give up that easily. If other companies can create their own stable coin, why not him? He has all the resources that he can use to make this happen. The government is too strict with him because of his status in the industry.
It may add to the factor but take into account that several companies and banks are starting to make their own digital fiat.
https://www.coindesk.com/ibm-signs-6-banks-to-issue-stablecoins-and-use-stellars-xlm-cryptocurrency because I really think the government in each country is afraid that the fiat will lose its leverage to other countries. Even the anti-crypto U.S. congressman Sherman said so.
https://www.coindesk.com/ibm-signs-6-banks-to-issue-stablecoins-and-use-stellars-xlm-cryptocurrency because I really think the government in each country is afraid that the fiat will lose its leverage to other countries. Even the anti-crypto U.S. congressman Sherman said so.
Possibly and I think they are seeing that stable coin involves big money also, so if they will restrict Libra from operating, that's being unfair since Libra is classified as a stable coin. Either they are planning on banning stable coin which is good for crypto since it's really the purpose of crypto to be volatile with fix supply and decentralized, I don't know but one thing in my mind now that tells me Libra will soon be in the market as they cannot ban all stable coins therefore allowing Libra but with strict regulation on general stable coins market.
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
There is a possibility that the action of The Federal Council has been triggered by Libra but I guess there are still big happening behind it.
Especially that this move has been cooperated by goverments,banks and authorities so it must be triggered by something big as Libra is still in the process of launching.
Most countries have been actively monitoring the impact of cryptocurrencies for some time now, it's not like governments have only just woken up to the fact that a parallel economy is developing alongside the fiat one.
However, so long as the technology doesn't overstep its bounds, and start outright looking to usurp the old way of doing things, I don't think we'll have much trouble with regulators for at least a few years.
Libra definitely could change that if it grows to threaten monetary policy, but that's still some ways off yet.
However, so long as the technology doesn't overstep its bounds, and start outright looking to usurp the old way of doing things, I don't think we'll have much trouble with regulators for at least a few years.
Libra definitely could change that if it grows to threaten monetary policy, but that's still some ways off yet.
Yes it is, but not at all.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
thanks, for your respond
maybe libra is not only the causes, but the fact libra is the main causes, right ?
personally i agree with you if a stable coins must be monitored, also all cryptocurrency with centralized system too my friend
Yes it is, but not at all.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
thanks, for your respond
maybe libra is not only the causes, but the fact libra is the main causes, right ?
personally i agree with you if a stable coins must be monitored, also all cryptocurrency with centralized system too my friend
I dont think that Libra cause this because Libra is not a stable coin in which it has to probe yet their performance in the market before it will consider a stable coin. The latest council development is because it is their job to protect their crypto users all the time to ensure that their hard earned money will not be wasted therefore the latest release is just a normal thing and it has nothing to do personally with any crypto.
Hardly because libra is done this system. Of course it is good that someone will begin to control at least some of the currencies. Perhaps after that, other countries will also connect.
I don't think it's just about Libra. This is about stable coins so that there is a proper audit and this is certainly to protect the interests of investors to be safer. The increasing number of stable coins in the market without proper audits can make the cryptocurrency market buble and I think this is good so that buble can be prevented
That is true this is not about Libra but all of this started after Libra face a regulation backlash from the government and making a domino effect to the others. As you stated the main point here is stablecoin itself because it brings potential financial risk to the country if it is allowed and regulated.
from the article above it seems like they are going to create a new rule regarding stablecoin but will remain the same for other cryptocurrencies.
The timing may be caused by Libra. They were watching crypto currencies (especially Bitcoin) already, but the financial power and tight schedule behind Libra made them hurry with their homework (in regulating crypto). This is the main thing Libra has done until now (good or bad) : wake up the regulators.
The last part of that article is interesting. Although it contains the word Libra in it, it also tells about open-source blockchain. So it's going to be for Libra, but not necessarily only for Libra.
The last part of that article is interesting. Although it contains the word Libra in it, it also tells about open-source blockchain. So it's going to be for Libra, but not necessarily only for Libra.
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
damn it could be!
that actually kinda seems like a good thing, its been way too easy for anyone to make a coin and sell it
and in 2019 specifically, COMPANIES have been jumping in on the craze
Libra was the nail in the coffin, but i think telegram selling billions$ in evaluation itself started the gov seeing this as out of hand
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
I don't think it's just about Libra. This is about stable coins so that there is a proper audit and this is certainly to protect the interests of investors to be safer. The increasing number of stable coins in the market without proper audits can make the cryptocurrency market buble and I think this is good so that buble can be prevented
I don't think it has something to do with Libracoin, stable coin and Cryptocurrency is already here when planned on Libra coin hasn't been revealed, it's past circumstances coming from scam coins and the nature of stable coin and cryptocurrency that motivate this council to come out with that statement, it is good for the community that they come out such a strong statement, we are all committed to making the Cryptocurrency a safe environment for investors and users.
Yes it is, but not at all.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
You must read the additional note that has already created by a member of seven council too.
Just because swiss is a friendly crypto country and it doesn't mean if it will be allowing all of the actions by crypto without doing a monitor to the stablecoins and blockchain.
This action just like to give a protection to its investors that already joined in the crypto.
Stable coin needs to be monitored consider it can be manipulated because it has been controlling by a centralized party. The manipulation that happened in tether is more than enough to prove if we have a big question about the credibility of the company that created stable coin.
Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
The Federal Council states that, while the mountainous Central European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the risks related to stablecoins and cryptocurrencies, saying:
“The Federal Council is committed to ensuring that the currency and stability policy challenges, in particular, are addressed through international cooperation between governments, central banks and supervisory authorities, with private providers also included.”
https://cointelegraph.com/news/swiss-federal-council-continues-to-monitor-stablecoins-and-blockchain
is this because of libra ?
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