The head of the Central Bank of England: Facebook cryptocurrency can have brilliant options for using

Mark Carney, the head of the Central Bank of England, believes that the Libra cryptocurrency project, which Facebook is developing, can have incredible application scenarios – for this it is only necessary to meet the requirements of regulators.

In the framework of the Portuguese conference, which gathered the heads of the Central Bank, Mark Carney, the representative of the Bank of England, commented on the crypto-project Libra from Facebook. Carney said that in pursuing the goal of maintaining financial stability, the Central Bank of England, together with the G7 countries, intend to closely monitor the development of Libra.

At the same time, Carney did not demonstrate a bias against Libra. He believes that the project will primarily find admirers in the US, since there the informal movement of small amounts of funds is slow and costly. Meanwhile, David Marcus, the head of the blockchain division of Facebook, said that Libra will, upon request, provide the authorities with data about users in order to prevent a possible violation of the law.

The “white book” of the Libra project and the crypto wallet Calibra were presented on Monday. It is known that for the time being the company will not charge users a commission for transactions, in the future Libra will most likely change the conditions for providing its services. It is known that the steablcoin Libra is provided with a basket of fiat currencies, securities and assets. The full launch of cryptocurrency will take place in 2020, in the coming weeks testnet Libra will be launched.