Search ForexCrunch
  • The adoption of Libra could “impair the monetary policy transmission.”
  • This is perhaps the most positive comment from a regulator’s perspective regarding Libra.

The European Central Bank Executive Board Member Yves Mersch says if Facebook’s Libra gains widespread acceptance it could ease the control of the ECV over the euro. The executive believed the adoption of the proposed digital asset could “impair the monetary policy transmission.”

This is perhaps the most positive comment from a regulator’s perspective regarding Libra. The social media giant has a lot to prove to the regulators in the US and around the world that it will not use Libra to demean sovereign currencies. Moreover, Facebook’s questionable track record of user data violations must be cleared in order to win regulatory approval.

Read more:  North Korea refutes claim of pinching $2 billion using cyberattacks on crypto exchanges and banks