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The Fed attacks Libra

The Fed Criticized Libra

Member of the Board of Governors of the US Federal Reserve, Lael Bernard, gave an extensive overview of the Libra cryptocurrency. Bernard criticized the project due to the lack of transparent links between digital currency and the “basket of underlying assets”, but stated the need to continue to develop the technology.

According to her, “any global payment network will meet the high requirements of legal and regulatory guarantees before the start of operations”, which automatically shifts the start of the full-fledged operation of the project indefinitely. As a result, the cryptocurrency market received some negative momentum.

 

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