Digital currencies such as Facebook’s Libra will disrupt the financial system, either by forcing central banks to innovate or by grabbing a global role that could challenge the dominance of the dollar, ECB board member Benoit Coeure said. Looking to set up a cheap global payment network, Facebook announced plans earlier this year to create the Libra “stablecoin” by next year, spooking global regulators who are now scrambling to come up with the needed regulation.
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