Director of the Libra Association: The efficiency of implementing anti-money laundering on the Libra platform will be much higher

David Marcus, head of the Facebook blockchain and director of the Libra Association, said at the Money 20/20 conference that he did not recognize the view that the stable currency would threaten the national monetary system mentioned in the G7 report and added that if the process involved By creating money, then stabilizing coins will indeed be a threat. But Libra didn't create a new currency, it just had one-to-one reserves. Marcus added that while Libra will be used for cross-border payments, there is also potential for domestic payments. He also said: "AML (AML) is a problem we need to solve. It is much more efficient to implement sanctions on the Libra platform than other payment networks. The blockchain enables regulators to rely on reports. In the case of self-monitoring what is happening and identifying the risks. We have a responsibility to do the work, and now that the Libra Association has the appropriate governance structure, we can now demonstrate this improvement."