At a quarterly meeting of the Federal Advisory Committee (FAC), some major US banks said Facebook's "Libra" encryption program would likely create a "shadow banking" system. According to Bloomberg News, the Fed asked the major banks in the country about Libra, which expressed their negative stance on the project and outlined the risk that demand deposit accounts and bank payments may fall. According to reports, these major banks said at a quarterly meeting in early September that Libra and similar stable currencies anchored the potential value of one or more fiat currencies, which may also constitute a banking model based on privacy. challenge. The banks noted that in 2018, about 52% of the US population (170 million people) were considered active Facebook users, suggesting that Facebook may create a digital currency ecosystem outside the sanctioned financial markets or “ The “shadow banking” system, which also said that as consumers adopt Libra, more deposits may be transferred to their platforms, significantly reducing liquidity, while non-mediation may extend further into lending and investment services.