Central Bank Mu Changchun: Libra must be included in the central bank's regulatory framework

According to Caixin.com, Mu Changchun, deputy director of the Payment and Settlement Department of the People's Bank of China, said Libra created a convertible digital currency that flows freely across borders. The emergence and development of such stable currencies, whether from the implementation of monetary policy or macro-prudential management, cannot be separated from the support and supervision of the central bank, as well as the regulatory cooperation between central banks and international organizations.