Yves Mersch, European Central Bank’s key legal official, said that Facebook’s Libra stablecoin is “beguiling but treacherous” during a speech at the ECB’s legal conference in Frankfurt on Monday.
Bloomberg reported on Mersch’s remarks in an article published on Sept. 2. Per the report, he said that private currencies have little or no prospect of establishing themselves as viable alternatives to centrally-issued legal tenders.