The Libra development team has decided to go ahead with its original plan to launch a multi-currency stablecoin, Libra's director of policy Julien Le Goc has said:
"We’ve not abandoned the multi-currency stablecoin, drawing its DNA from the [International Monetary Fund's] special drawing fund, which remains an important design feature."
The Libra Association has an "ongoing dialogue" with central banks to create a regulatory framework.
Representatives of the Libra Association are also exploring ways to bring its governance structure closer to a public-private partnership with national governments.
Facebook's Libra digital currency project has been under a lot of pressure from regulators from the very beginning. As a result, representatives of the Libra Association changed the approach of the project and announced their intention to develop a multi-currency stablecoin, each of which will be linked to different currencies: the dollar, the euro, the pound sterling and the Singapore dollar.
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