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  Technology   In Other news  24 Dec 2019  Global use of Libra, other stable coins could curb currency's internationalisation

Global use of Libra, other stable coins could curb currency's internationalisation

REUTERS
Published : Dec 24, 2019, 2:00 pm IST
Updated : Dec 24, 2019, 2:00 pm IST

They could also weaken the effects of capital controls and lead to volatile asset prices.

This could impact financial stability.
 This could impact financial stability.

The global use of Facebook’s Libra and other stable coins could curb the Chinese yuan’s international development, the official Xinhua news reported on Monday, citing the central bank’s vice governor Chen Yulu.

They could also weaken the effects of capital controls and lead to volatile asset prices, which could impact financial stability, said Chen at a finance event on Saturday.

Tags: facebook, libra