Blockstream Chief Strategy Officer: Regulators not only want to implement strong financial regulatory measures for Libra, but also oppose the concept of private companies issuing money.

Recently, global regulators continue to pressure the cryptocurrency Libra. In response, Blockstream Chief Strategy Officer Samson Mow pointed out that regulators not only want to implement strong financial regulatory measures for Libra, but also oppose the concept of private companies issuing money. Even high standards of regulation cannot completely eliminate the root causes of the authorities’ concerns. He analyzed that their concerns are essentially aversion to competition, but Libra will inevitably compete with the legal currency issued by the government, no matter how much supervision can not completely eliminate this competitive relationship. Because Libra's goal is to become a global currency, they can only choose to comply with the regulations of different jurisdictions for operations, and this management is complicated, and the ability to quickly use new features is reduced. Libra is likely to be issued, but the question is in how many jurisdictions are issued? Mow believes that if Libra can meet all the requirements of the US government and regulators, will this intimidate other countries? Because other countries may regard Libra as a US currency, they will erode their sovereign currency to further achieve the US goal.