Libra – a cryptocurrency project driven by Facebook

Libra has been marketed using financial inclusion as main argument. A closer look at the details provided in a new research paper titled “Regulating Libra” by Professor Dirk Zetzsche, ADA Chair in Financial Law (inclusive finance) at the University of Luxembourg and his co-authors Professor Ross Buckley (UNSW Sydney) and Professor Douglas Arner (Hong Kong University), reveals that Libra does not solve all the woes the financially excluded.

Further, Libra is the first private cryptocurrency with the potential to change the worldwide payment and monetary system landscape. Due to the scale and reach provided by its affiliation with Facebook, the question will be not whether, but how, to regulate it. The research paper introduces the Libra project and analyses the potential responses open to regulators worldwide.

The research paper is available for download here.