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Libra Association Exec Claims Libra Will Not Replace Existing Money

Libra Association Managing Director Bertrand Perez said on Friday that the Facebook’s cryptocurrency Libra, that should be launched by a Geneva-based association next year, is not intended to replace existing currencies. He said:“We are not in the area of implementing any monetary policy with the (Libra) Reserve.”This confirms what Libra’s CEO David Marcus was speaking back in July at the hearings when he kept stressing that Libra is not an investment and it doesn’t want to conquer the...

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