Benoit Coeure, a board member of the European Central Bank, said that Facebook’s Libra coin will not launch until global regulators are satisfied.
Speaking to Reuters at the G7 summit in Chantilly, France on July 18, Coeure said that the proposed stablecoin must be guaranteed to be safe for users before it can launch:
“You’ve got to be safe, robust and resilient from day one. It’s not a learning process: either it works or it doesn’t.”
Coeure stated that guaranteeing the protection of user privacy and ownership rights may require significant consideration and lengthy discussion by regulators: