The barrage against Libra continues

The barrage continues against Libra - Libra 1

Pound The road that should ultimately lead to the long-awaited debut on the markets seems to be becoming increasingly tortuous. To the already rich fan of contrary opinions issued by authoritative personalities from the political and financial world in the past few days, others have been added over the past few hours who, however, do not show indulgence towards the new Facebook cryptocurrency.

The opinion of the G7 on Libra

The first opinion in question is the one that was issued during the G7 of financial ministers held in Chantilly, a meeting which has seen Libra among the objects of discussion. An opinion that should not leave quiet the leaders of Menlo Park, considered as according to the ministers meeting in France the virtual currency of Facebook could even destabilizing the global financial system, if it were not properly caged in a system of certain rules.

If this was the point most highlighted by the commentators, it should however be specified that during the summit Benoit Coeure, a member of the board of the European Central Bank, has also taken a much more articulated position. In particular he stated that the stablecoin global could present some advantages of no small importance, for example by increasing competition in the payments sector, reducing the commissions paid by consumers and giving rise to a greater financial inclusion than today, allowing many people to have tools in this sense that they cannot have today. On the other pan of the scale, however, it is necessary to put defects of no less importance, starting from possible use for the illegal economy and for international terrorism.

Brad Sherman's anathema

Another opinion, much more negative also because it has been purified of the possible institutional casts that have pushed Coeure to smooth the tone of his declarations, then came from Brad shermanDemocratic member of the United States House of Representatives. According to him, in fact, the launch of Libra would be equivalent to the request for friendship in vogue on Facebook to subjects such as oligarchs, drug dealers, human traffickers and terrorists.

His words were entrusted to Twitter and did not hesitate to indicate Mark Zuckerberg as the architect of an intentional plan to circumvent U.S. anti-money laundering legislation.

Statements that did not arouse excessive surprise in light of the fact that Sherman was one of the most critical during thehearing held at the Congress right on Libra. So much so as to go on to warn the Financial Services Committee, stating that the Menlo Park stablecoin could turn into the biggest problem that the body will face over the next decade.

A problem that could however prove to be a simple trifle in the face of the hypothesis that Libra could be used to finance the next terrible terrorist attack, an event that for Zuckerberg could turn into a real nightmare.
An opinion, that of Sherman, which seems to be getting wider not only in public opinion, but also in political and financial institutions, precisely in light of the immoderate ambitions expressed within the Libra White Paper.