Central bank big shot: Libra won’t launch unless we are satisfied

Central bank big shot: Libra won't launch unless we are satisfied

Image source: Wikimedia Commons / Shutterstock

Teodor Stig-Matz

teodor.matz@trijo.co

Benoit Coeure is a member of the Executive Committee of the European Central Bank. Now he has spoken about Facebook's upcoming cryptocurrency libra for the second time.

Facebook’s upcoming cryptocurrency libra has met a lot of opposition from politicians recently.

The US Congress is considering whether to ban the cryptocurrency, and the American President Donald Trump is not a fan.

Facebook must answer our questions

Now comes another setback for Facebook. Benoit Coeure, a member of the European Central Bank’s executive committee, says that libra will not be released until central banks and politicians are satisfied with the cryptocurrency.

“Authorities are not going to let any such projects happen before we have answers to our questions and before we have the right regulatory framework”, he says in an interview with Reuters, according to Cointelegraph.

This is not the first time Benoit Coeure talks about libra. He has previously criticized the project.

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