Libra probably never going to be allowed by regulators says CEPR member – Libra News

Beatrice Weder di Mauro of the Centre for Economic Policy Research in an interview with CNBC said that Libra is probably not going to be allowed by regulators. However, she agrees that a global currency like Libra would have a huge benefit over the current monetary system.

ADVERTISEMENT

In an interview with CNBC, Beatrice said that Libra has “shaken up” the central bank community as Libra being a private company can undermine the current global monetary system, and that is why it probably would not be allowed by regulators. She added that chances of central banks getting together and launching a Libra-like stablecoin are much higher now.

Beatrice agrees with the governor of Bank of England for having a synthetic global currency issued by the public sector to replace the dollar as a global reserve. Libra has successfully brought regulators’ attention to the emerging crypto market even though most of the lawmakers in the US have taken a negative instance on the issue. The CEO of Facebook, Mark Zuckerberg, appeared before Congress on Wednesday to answer lawmakers’ questions about Libra and its policy.

When asked about the role of women in this emerging market, Beatrice replied that employing women or more diverse staff would help the industry grow at the macrolevel.

ADVERTISEMENT
Avatar
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Leave a reply

Please enter your comment!
Please enter your name here