Australian Reserve Bank Official Advises Caution in Anticipation of Libra

Governor of the Reserve Bank of Australia (RBA), Philip Lowe, cautions that Facebook’s announced virtual currency—Libra—may not attain mainstream usage in the near future, according to a report by Bloomberg on June 20

The report quotes Lowe as follows regarding Libra:

“There’s a lot of water under the bridge before Facebook’s proposal becomes something we’re using all the time [...] There are a lot of regulatory issues that need to be addressed and they’ve got to make sure there’s a solid business case, so we’ve got to be careful before we jump to conclusions.”

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