RATE Group | With New Members Libra Still Isn’t a Threat to Bitcoin, Here’s Why
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With New Members Libra Still Isn’t a Threat to Bitcoin, Here’s Why

26 Feb With New Members Libra Still Isn’t a Threat to Bitcoin, Here’s Why

Posted at 23:26h in Bitcoin News by

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Recent new members to the Libra Association look set to contribute capital, potential user bases, and technical expertise to help the project win favour with regulators. Yet, contrary to what you might have heard, Libra really isn’t a threat to Bitcoin.

The Libra Association recently added the Canadian e-commerce platform Shopify and crypto startup Tagomi to the governance consortium overseeing its Libra stablecoin project.

Libra and Bitcoin, Not Even the Same Beast

The crypto asset industry faced a lot of scrutiny when Facebook first announced Libra last summer. Suddenly, it seemed every lawmaker and regulator in the land had something to say about Bitcoin and/or Facebook’s financial ambitions.

It stands to reason that regulatory interest will continue to increase with further development on the project. The new members, as reported by Tech Crunch and Forbes this week, are clear evidence that those behind the project are soldiering on, despite the objections of the powers that be.

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