PBoC sounds alarm over Facebook’s Libra

Central banks must keep control of Facebook currency, senior officials say

pboc building
The People’s Bank of China

A senior official at the People’s Bank of China says Facebook’s Libra must be kept under the control of central banks.

PBoC officials voiced worries that the new digital currency could have destabilising effects on the financial system and said the bank would step up its own efforts to create an e-currency.

Facebook announced the crypto asset in a white paper last month. Libra will run on a system similar to a blockchain without being decentralised in the same way as most crypto assets, and it

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: