Facebook executive David Marcus: Libra will not threaten national currency sovereignty

Libra co-founder David Marcus just tweeted: "There has been a lot of discussion about how Libra threatens national sovereignty on currency issues, and I would like to take this opportunity to expose this understanding. Libra aims to be a better payment network and The system, which operates on the basis of the existing currency, Libra will be supported by a basket of strong currencies 1:1, which means that any unit of Libra currency that exists must have equal value in its reserves, therefore, This will not create new currencies, it will strictly accept the jurisdiction of sovereign states. We will continue to engage with central banks, regulators and legislators to ensure that we address their concerns through Libra's design and operations."