David Marcus, CEO of Calibra and director of the Libra Association, warned Washington that if they decide to block Libra, China will be the winner. He said: "Beijing is in a leading position in establishing digital payments covering the whole world. If we don't have a good answer, the future of five years will basically be a big part of China's reconnected world, and the digital renminbi will be under their control. The blockchain operates. The whole world will be free from US sanctions, protected from US sanctions, and have the prospect of a new digital reserve currency."