New York University Professor: Regulators need to respond to Libra

Scott Galloway, a professor of marketing at New York University's Stern School of Business, said that "slight fear" is an appropriate response to Facebook's cryptocurrency program. Galloway mentioned: "If we let Facebook establish a new default currency, it may have unintended negative consequences." Galloway also called on US and global regulators to respond to Libra. He added that if there is something wrong with Libra, it is not Facebook's fault, but the regulator has not responded properly, and consumers have purchased Libra anyway.