Facebook’s Libra is having a hard time as they try to convince the government as well as people about their upcoming project and how it can bring a change in the world of digital currencies. In recent news, Facebook’s Libra is scheduled to have a meeting with the European Central Bank(ECB)‘s officials.
25 global central banks will send their officials to be a part of this meeting. Representatives of Libra will be a part of this meeting as they sit with the Committee on Payments and Market Infrastructure (CPMI) for discussions about the launch of Libra. The meeting will take place on 16th September.
CPMI is a part of the Bank of International Settlements (BIS) which is responsible for setting the standards for any international firm. BIS is made up of 28 member banks which include the Bank of England, the Federal Reserve bank of New York and Bundesbank.
This meeting is said to be one of the biggest meetings of all times that is taking place between Libra representatives and global financial policy setters. ECB’s Benoit Coeure will chair the meeting, but he has mentioned it several times that the approval for Libra’s operation in the European Union will be granted to them once Facebook clears all concerns.