10/16, 5:18 PM (Source: TeleTrader)
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David Marcus: Libra's status quo isn't an option

At the IMF Annual Meeting held on Wednesday in Washington, Calibra’s CEO David Marcus stated that the "status quo for Libra isn’t an option". However, he added that there might not be only Libra but also other cryptocurrencies.

At the conference called "Big Tech and the Future of Finance," Marcus specified his belief that money creation should stay in the hands of the government. "Libra will prevent other ones from creating money because it’s based on a system 1 Libra for 1 dollar. I believe with Libra the world will be better and stronger and Libra would create more trust."

One of the rare Libra public "defenders" Bank of England Governor Mark Carney confirmed the high cost of money moving across the borders is penalizing for small businesses. He warned though that the global coins could put pressure on other currencies. "You need an architecture to do that," Carney said.

Breaking the News / TF