One for the crypto folks - PBOC wants Facebook’s Libra under central bank oversight

Author: Eamonn Sheridan | Category: Cryptocurrency

Mu Changchun, deputy director of the People's Bank of China's payments department (a senior official at the PBOC)

  • Libra, Facebook's own cryptocurrency, must be put under the oversight of monetary authorities,
  • Mu says that as a  a convertible crypto asset (a type of stablecoin) Libra can flow freely across borders
  • it "won't be sustainable without the support and supervision of central banks"
Mu in communications with Bloomberg

Meanwhile, Bitcoin is rallying hard in Asia today, following overnight gains:

Mu Changchun, deputy director of the People's Bank of China's payments department (a senior official at the PBOC)



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