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As for Facebook, its digital currency plans have been met with skepticism. Authorities are concerned about users’ privacy, risks it could be exploited by criminals, and the threat it may pose to major currencies’ sovereignty.
Having blasted Bitcoin with monikers including “the evil spawn of the financial crisis,” central bankers are now beginning to explore the novel field of digital currencies.
A Bank for International Settlements survey determined that an increasing number were looking into issuing a new medium of exchange. Bank of England Governor Mark Carney laid out a radical proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve currency with a Libra-like virtual one.
Full article on Bloomberg (subscription required)