1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Libra: A Facebook-led Cryptocurrency Initiative Rebecca M. Nelson Specialist in International Trade and Finance David W. Perkins Specialist in Marcoeconomic Policy October 21, 2019 On June 18, 2019, Facebook announced that
2、, with 28 other members, it had founded the Libra Association, which planned to launch a new cryptocurrency, called Libra. The association released a white paper that outlined the characteristics of Libra and described its goal of creating a cryptocurrency that would overcome some of the challenges
3、faced by other cryptocurrencies and deliver the possible benefits of the technology on a large scale. President Trump and Treasury Secretary Mnuchin raised concerns about the Libra project, as did several Members of Congress during Senate Banking Committee and House Financial Services hearings, alth
4、ough some Members were more welcoming of efforts to advance financial innovation. The House Financial Services Committee majority has drafted legislation that would effectively block the Libra project. Internationally, the G-7 finance ministers and central bank governors agreed that Libra raises “se
