Facebook’s Libra must be stopped

NEW YORK – Facebook has just unveiled its latest bid for world domination: Libra, a cryptocurrency designed to function as private money anywhere on the planet. But this guarantee rests on an illusion, because neither Facebook nor any other private party involved will have access to unlimited stores of the pegged currencies. Governments must not allow private, profit-seeking parties to put the entire global financial system at risk.

Source: www.project-syndicate.org