"Global Times" English version of Facebook currency: the era of global digital currency competition, China can not be absent

On June 25th, the English version of Global Times published a review article entitled “The era of global digital currency competition, China cannot be absent” for Libra, the Facebook cryptocurrency. The article pointed out that after Facebook issued the digital currency Libra, it had the right to issue currency for the global 2.7 billion people, becoming an independent "central bank" in the digital economy. To alleviate the regulatory pressures that come with it, Facebook may reach an agreement with US regulators. Once the agreement is reached, Libra will become the actual representative of the dollar in the global digital economy. With Libra's significant first-mover advantage in the digital economy, the US government will have difficulty blocking Libra's penetration in the digital economy. China is no exception. The Global Times believes that China must participate in this round of digital economic competition.