“The concept of Libra represents a more globally strong currency that may emerge.”
Editor’s note: This article comes from the strategic partnership blockchain media “Odaily Planet Daily (Public ID: o-daily, APP Download)
Author | 昕楠 Editor | Lu Xiaoming
Odaily Planet Daily (ID: o-daily)
On the ninth day after Facebook released the Libra white paper, Libra is still struggling in the regulatory mud and can’t get out.
Since the white paper was launched in June, Libra has not received any positive support from any country. On the contrary, the attitude of central banks to Libra is on the verge of an enemy, and they have joined forces to start a collective boycott.
Libra, which is expected to be launched in the second half of 2020, is now struggling to bridge the regulatory divide. Libra didn’t seem to realize that the cheese he had moved, but it had aroused the vigilance of the people involved.
On the other hand, Libra is struggling to face the most stringent supervision in history. On the other hand, under the pressure of Libra, central banks have suddenly realized that the legal digital currency has been put on the agenda.
Under the new competitive environment, everyone wants to participate in the competition of the next Bretton Woods system.
Libra promotes twists and turns, and countries regulate the cofferdams
Libra is being confronted with national regulations.
Since its launch in June this year, Libra’s road to progress has been bumpy. After three months, people could hardly feel any advancement of Libra, and Libra and regulators became the biggest attraction.
For Libra, receiving a subpoena from the regulatory has become a common occurrence.
One year ago, the performance of Facebook’s head, Xiaozha, at the privacy door hearings is still fresh. Today, Libra’s project leader, Marcus, has to go to Gaotang in suits and suits, and fights with hundreds of members at large and small hearings.
There is data display, Libra After the launch of the white paper, the US Congress held three consecutive hearings in half a month. However, Libra still has not exchanged the trust of the United States under the efforts of Libra.
US President Trump still does not recognize Libra’s status, bluntly speaking in the US, only a real currency of the US dollar; and said “Facebook Libra will not have any status or reliability, if Facebook and other companies want To become a bank, they must apply for a banking license.”
On September 16, Libra held talks with 26 central banks including the Federal Reserve in Switzerland. This has once again triggered industry attention.
In this meeting, Libra was asked to answer key questions about currency range and design, and discussed with the central bank officials the policy and regulatory risks brought by the stable currency supported by financial institutions and technology companies. The results of the results will be submitted to the G7 Finance Minister in October.
Before the meeting, the high-profile attitude of Germany and France should prevent Libra from launching.
German Finance Minister Olaf Scholz bluntly cannot accept parallel currencies like Libra. French Finance Minister Bruno Lemer believes that Libra threatens the monetary sovereignty of governments.
Subsequently, the German cabinet formally approved the draft blockchain strategy, supporting the securities tokenization but against the Libra stable currency. Not only that, the attitude of Libra’s registered Switzerland has quietly changed.
At first, Libra wanted to seek a license in Switzerland, and Switzerland also expressed its willingness to actively promote that Switzerland can play a role in an ambitious international project. But with the pressure from the US Treasury and other European countries, Switzerland has also recently expressed its readiness to work with other countries to ensure Libra’s regulation.
If the countries were still a little embarrassed about Libra, Libra can still survive in the cracks, and now the attitude of national supervision can be said to join forces to encircle Libra.
At the same time, in order to gain the recognition of national supervision, Libra continues to attract high-paying lobbyists. According to statistics, as of August this year, Facebook has spent more than $7.5 million on lobbying in Washington and employs more than 12 external lobbying companies.
The reason for this emphasis on dialogue with regulation is that Libra clearly understands that Libra is likely to be “in the dead” if it is not regulated.
Do not allow Libra to issue coins, countries must issue their own currency
Many people use Libra to compare with Bitcoin, which is considered to be a new thing to transform the global financial infrastructure.
But Bitcoin has never been like Li