Fed Governor: Libra must address core legal and regulatory issues

The Fed's official website released a speech by Fed Governor Lael Brainard at the Peterson Institute for International Economics on "The Future of Money." Brainard said it is not clear what kind of consumer protection, customer recourse and price protection measures Libra will take. Libra must address core legal and regulatory issues to facilitate first payment. The issuance of digital currency by the central bank has brought "deep legal, policy and operational issues." The Fed will be cautious about the central bank's digital currency and pay close attention to other central banks' attempts on the digital currency issue.