Will the U.S. and China compete for cryptocurrency initiatives?
China boosts with a comment of Xi to grow the blockchain industry. On the other hand, the US still has restrictions on Libra of Facebook.
Mark Zuckerberg, CEO of Facebook, expects China will launch digital currency soon and hopes to service their project Libra quickly.
Mark is concerned that China will be more competitive while the US government and financial institutions regulate the release of Libra. But most US lawmakers disagree with him.
The US government is deeply concerned that Libra could destroy the dollar's value and history. In addition, EU officials are not much different from the United States.
The Facebook has been criticized as a regulator since it released the Libra white paper in June, 2019. Uncertainty over Libra has increased as financial settlement service partners, who have recently decided to run the Libra platform together, have stepped out.