Ethereum’s Lubin: Stablecoins are ‘extremely valuable’ to emerging digital economy

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Recently, Mark Zuckerberg, Facebook CEO, faced Congress on all matters concerning its privacy policy, political advertisements, and the launch of its crypto-project, Libra. One of his remarks that stood out with regard to its cryptocurrency, made while acknowledging the concerns of the Congress, said that was China stealing the United States’ thunder in terms of technological advancements and financial leadership.

Zuckerberg had said,

“[…] the risk of not innovating. While we debate these issues, the rest of the world isn’t waiting. China is moving quickly to launch similar ideas in the coming months. Libra will be backed mostly by dollars […] it will extend America’s financial leadership [….] If America doesn’t innovate, our financial leadership is not guaranteed.”

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