Global use of Libra, other stable coins could curb currency\'s internationalisation
24 Dec 2019 8:30 AM GMT
They could also weaken the effects of capital controls and lead to volatile asset prices.
Facebook's plans to launch Libra have raised concerns.
The global use of Facebook’s Libra and other stable coins could curb the Chinese yuan’s international development, the official Xinhua news reported on Monday, citing the central bank’s vice governor Chen Yulu.
They could also weaken the effects of capital controls and lead to volatile asset prices, which could impact financial stability, said Chen at a finance event on Saturday.
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