Benoit Coeure, a member of the Executive Board of the European Central Bank (ECB), said Facebook's Libra stable coin, "has undoubtedly been a wake-up call for central banks and politicians."
ECB head Benoit Coeure about Libra cryptocurrency
On Wednesday, in a commentary on the Bundestag of the German Federal Parliament, Benoit Coeure said that although initiatives of stable coins, including Libra, can solve some problems on the global payment market, these initiatives also create "huge problems" in all areas of monetary policy.
"Of particular concern are the risks associated with money laundering and combating the financing of terrorism, as well as protecting consumer rights and data, cyber resistance, fair competition and tax compliance," he said.
Interesting in the section: Regulators and fear: what can prevent Facebook from releasing the Libra cryptocurrency
- Coeure also believes that if stable coins are used widely, they can cause problems associated with the transfer of monetary policy and financial stability.
- September 23, it became known that Facebook acquired Servicefriend, a startup developing chatbots for messaging applications.
- In a blog post on Wednesday, Libra co-founder David Marcus tried to justify Facebook. Stating that building on existing banking systems will reduce costs.