First Deputy Governor of the Bank of France: Libra and non-Eurozone CBDC may affect the supply of the euro

According to AMBCrypto, Denis Beau, the first deputy governor of the Bank of France, said that the risks brought by Libra must be resolved before its official launch. In addition, it talked about the Central Bank Digital Currency (CBDC) at the Monetary and Financial Institutions Forum meeting on October 15 and divided it into two categories: retail CBDC and wholesale CBDC. The “motivation” for issuing retail CBDCs may be due to “huge demand” for digital payments to ensure that such supplies are not monopolized by “private payment structures,” such as Facebook's Libra or digital renminbi, such as non-euro CBDCs. It said that these two supply diversions may “get huge market power and pose risks to security and financial stability.” However, it is mentioned that CBDC may be beneficial from the perspective of cross-border retail payments.