The Central Bank of Facebook

[coin-investor]

Unfortunately, the US government do not see it that way, they have their own perception and judgement based on their constitution and framework and they see Facebook's Libra coin as a big threat to the banking industry and the strength of the dollar, they do not want interruption and they do not want a new financial power coming in to challenge them.

[freedomgo]

Unfortunately, the US government do not see it that way, they have their own perception and judgement based on their constitution and framework and they see Facebook's Libra coin as a big threat to the banking industry and the strength of the dollar, they do not want interruption and they do not want a new financial power coming in to challenge them.

But are they not allowing Libra to be launch? I think they haven't said something like that and they also didn't say about that threat.
AFAIK, all they mentioned is just in relation to regulation and they want Libra to complied with the strict regulation so they can monitor this project properly and that's their job, imagine the risk if they can't monitor it, Libra might attract billions of users world wide and illegal activities could be rampant without a strict policies impose on them.

[STT]

Unfortunately this challenge by a simple process of alternatives in an economy isnt a new problem for governments.   I think the measures previously used are called Capital controls which is to restrict your own population from its choice of currency.
   We do not live in a time of capitalism, I've been saying this many years.   We retain democracy for now but we have effectively lost capitalism when the central bank looms over so largely on the value of every note of value held and exchanged in the country.

It means all are a threat even when they have no intention to be, Libra by not backing the US dollar has stepped outside the shadows cast by the central banks that might allow it to continue unopposed.   Zuckerman does not realise by establishing his own basket of currencies in his arrangement he could unbalance the capital flows of countries quite vulnerable to devaluation.
    It doesnt take alot to do this to a country with 10's of thousands in debt for every citizen and long standing trade deficits, Sterling is currently feeling the steady loss of value from markets favouring currency alternatives with less risk then its politics has for this year.

This article basically underlines the problem, Japan is quite favourable to BTC so its quite a contrast. -
https://uk.reuters.com/article/us-japan-facebook-libra/former-japan-central-banker-warns-facebooks-libra-may-undermine-monetary-policy-idUKKCN1US0SK

[FanEagle]

Unfortunately, the US government do not see it that way, they have their own perception and judgement based on their constitution and framework and they see Facebook's Libra coin as a big threat to the banking industry and the strength of the dollar, they do not want interruption and they do not want a new financial power coming in to challenge them.

But are they not allowing Libra to be launch? I think they haven't said something like that and they also didn't say about that threat.
AFAIK, all they mentioned is just in relation to regulation and they want Libra to complied with the strict regulation so they can monitor this project properly and that's their job, imagine the risk if they can't monitor it, Libra might attract billions of users world wide and illegal activities could be rampant without a strict policies impose on them.

Well, I have seen some news around about G7 discussion disapproving the use of Libra and seeing it as a global threat and this may be the reason why Facebook too announced that they might not succeed in launching the project too, if the source of news where I read it was true because I don’t rely on Facebook official statement again, it has been long that people started talking about Facebook Libra coin which I never believe because Facebook did not make any official statement, only for me to see their statement about it at the dying time.

So, I believe there is still element of truth in this and Facebook might have been advised to halt the project and I would not be surprised if we don’t hear anything about the project again.

[Ozero]

I think that soon the passions around the appearance of the scales will calm down, since such an ambitious Facebook project will remain unrealized. Against the appearance of the Libra coin, the G-7 countries were very tough and I think that this is already enough to prevent such a project from happening. Even Facebook already doubted whether they would succeed or not. And this is actually their surrender.
However, something similar to the Libra coin may later be released in China. This state is less dependent on the United States and other world states. Therefore, the events surrounding the idea of ​​issuing such a stable coin will continue.

[Abiky]

Unfortunately, the US government do not see it that way, they have their own perception and judgement based on their constitution and framework and they see Facebook's Libra coin as a big threat to the banking industry and the strength of the dollar, they do not want interruption and they do not want a new financial power coming in to challenge them.

That's certainly true, mate. It's the usual behavior of governments worldwide, as they don't want an alternative currency taking over the world. Their main intent is to keep control of their citizens whatever the cost may be. In the case of Libra vs the US, I believe that the government is afraid that Facebook's infamous cryptocurrency will take over the USD. We've seen President Trump's comments recently where he said some negative comments about Libra, while praising the USD in every way.

Even if Libra doesn't become a reality anytime soon, the US government will surely devise a digital currency of its own. That would be a modernized version of the USD, with its very own Blockchain ledger controlled the central Bank in the US (in this case, the Federal Reserve). This would be preferable over Facebook's cryptocurrency which has the intent of violating people's privacy in every way. Despite what people think about Libra and crypto in general, it's the way of the future and we cannot ignore it.

Nonetheless, the odds of Facebook becoming a central Bank in the future, are zero to none. This is widely because, regulators have become too fierce against Libra's launch with the aim of destroying the project altogether. Successful or not, at least we have decentralized cryptocurrencies like Bitcoin and Ethereum which are more than sufficient for our daily transactions without middleman. Just my thoughts