Dong Xizhen, Renmin University of China: "Lititung Coin" is difficult to become a legal digital currency

On July 11, the Economic Daily published an article by Dong Xiwei, Associate Dean of the Chongyang Finance Research Institute of Renmin University of China, "The Libra Coin" is difficult to become a legal digital currency. The article points out that although Libra Coin has some distinctive features, it is not a legal digital currency and it is difficult to become a truly super-sovereign world currency. In the absence of a sovereign state, virtual currency that has not been approved by central banks and incorporated into regulation is difficult to transcend national borders into a world currency. Therefore, for the "Literature Coin", the International Financial Stability Council and other international organizations and central banks generally adopt a wait-and-see attitude and a cautious attitude.