Author | Qin Xiaofeng

Editor | Lu Xiaoming

(picture fromThe Verge）

Author | Qin XiaofengEditor | Lu Xiaoming

(picture from

Project white paper (click to read).

according toCoindeskLibra's goal is to issue borderless currency and build financial infrastructure on a global scale. However, regulators around the world have mixed reviews for Facebook's project, which also casts a shadow over the project's development prospects.

secondary titleU.S. lawmakers demand halt to developmentaccording to

According to news, Maxine Waters, chairman of the Financial Services Committee of the U.S. House of Representatives, wants Facebook to stop developing Libra until a project hearing is held.

Maxine Waters in aPatrick McHenrystatement

Said, "Facebook has billions of people's data, but has repeatedly ignored the importance of data protection and careful use of data. As Facebook announces plans to create a cryptocurrency, it will continue to expand without limit and extend its tentacles to users. life."Sherrod BrownShe added that the cryptocurrency market currently does not have a clear regulatory framework to provide strong protections for investors, consumers and the economy as a whole. So asked Facebook to suspend development. "Given the company's past problems, I am asking Facebook to agree to a moratorium on cryptocurrency project development until Congress and regulators have had an opportunity to examine these issues and take action."

“There are many unanswered questions about the scope and scale of the project, and how it will fit within our global financial regulatory framework. As policymakers, we have a responsibility to understand the Libra project. We need to move beyond rumor and speculation, and Convene a hearing to assess this project and its likely unprecedented impact on the global financial system."

Compared with the calm and calm attitude of the above two lawmakers, the senior member of the Senate Banking Committee

be more aggressive. He argues that Facebook has exploited user data in the past and therefore would not allow “a risky new cryptocurrency to be run in Swiss bank accounts without supervision.” (The Libra token will be managed by a Swiss foundation)Bruno Le Maire"We look forward to responding to lawmakers' questions as the process progresses," a Facebook spokesperson said in a statement.

French finance minister warns"Ask Facebook for some guarantees"Yesterday, the French Finance Minister

It issued a warning that Facebook's cryptocurrency does not have the capacity to be a sovereign currency.

Governments have the right toMaire, which will make it clear that Libra will not become a competitor to existing sovereign currencies. Stablecoins should not be "diverted to finance terrorism or any other illegal activity."

He continued: "We have to make sure that consumers are not at risk, and protecting consumers is our country's duty."

according toBloombergsecondary title

BoE chief demands high standards

Bloomberg

According to news, at the European Central Bank's annual seminar in Portugal, Mark Carney, governor of the Bank of England, said that Facebook's encryption project Libra will face strict supervision and review by the G7 group.

“Anything that wants to exist in the world has to be systemized and must comply with the highest regulatory standards,” Carney said.

“We will be coordinating at the G7, BIS, FSB and IMF levels to watch it (Libra) closely. Our minds are open , but our standards will not be relaxed."

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In an interview with CNBC, Sheila Bair, the former chair of the U.S. Federal Deposit Insurance Corporation (FDIC), expressed some concerns about the launch of Libra.

“If I go and buy Libra and give them some money, what are they going to do with that money? They’re kind of vague about it in the white paper,” she said.

Facebook has 2.6 billion users around the world, and those users of Libra exchange in more than 100 different currencies. Despite Libra's claim to be a future stablemate, it's unclear how Facebook will use its reserves to manage the investment.Giovanni ButtarelliIn the interview, Sheila Bair believes that it is time for the Federal Reserve to issue "Fedcoin" (Fedcoin) compared to Facebook's stable currency. However, the government has been slow to embrace new technology and Sheila Bair's proposal seems premature.

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European data protection chief sees big risks

European data protection chief in response to Facebook's disclosure of cryptocurrency Libra details