Father of JOBS Act: Gov’t Was Concerned Libra Could Displace Dollar

[Tanimariya]

The father of the JOBS Act would be happy to help Telegram with an IPO if the company chooses to revert to a traditional fundraising model.
David Weild IV, who is known as the father of the JOBS Act, believes that the U.S. government had to move to stamp out Facebook’s Libra stablecoin.
Read more info: https://cointelegraph.com/news/father-of-jobs-act-govt-was-concerned-libra-could-displace-dollar

[Fenix]

I think that the peak of fear regarding the possible dominance of Libra has already passed. On the one hand, regulators did their job and in fact did not allow such an opportunity in the future. On the other hand, the finance ministers of the European Union states said that they would not allow Libra to go on their territory, and without the European market this coin would not be able to unfold in full force.
You can also say that the time of commercial stable coins is already passing. It seems to me that stable coins of the central banks of the states will have a greater demand. In any case, the choice will be huge and this will significantly weaken the position of Libra.

[masudginanjar]

The father of the JOBS Act would be happy to help Telegram with an IPO if the company chooses to revert to a traditional fundraising model.

This story might bring new things to Telegram because it is certain that Telegram will rise again if only it has supporters from various famous people to re-create TON (Telegram coins).
But I have doubts if only the IPO is not supported by the well-known, at least it might be Vitalik Butterin who is ready to support Telegram coins.

David Weild IV, who is known as the father of the JOBS Act, believes that the U.S. government had to move to stamp out Facebook’s Libra stablecoin.

If only LIBRA was abolished and did not have a stable coin then it would certainly be a disaster for Mark Zuckerberg because if LIBRA coins were not stable it would be very dangerous.
LIBRA can be a Pump-Dump coin if left unstable due to the effect of the movement of the coin traders.

[damsix]

I think this is something valuable for Telegram to get back on its feet and it is certain LIBRA is able to undergo in collaboration with TON.
Jobs Act in my opinion is too enthusiastic because in fact LIBRA will not be able to replace the USD and better LIBRA focus on developing and creating coins, no need to dream further to defeat the USD!

[Alcor]

In my opinion, fears are completely groundless. Problems of the Libra project with regulators appeared due to the fact that the Libra stable coin will be provided with a large basket of different currencies. Now this project is gradually losing its relevance. A significant role will soon be played by stable state coins. Already more than 80 percent of all states are developing their own national stable coins of central banks, which will have the key role among all stable coins.

[Muneeb22]

I don,t think so that libra will replace the dollar becasue still no one conform that Libra coin is going to be high and it will officially launched. We just saw on news about libra, so wait for the launch date.

[Salman Hasan]

I think this is something valuable for Telegram to get back on its feet and it is certain LIBRA is able to undergo in collaboration with TON.
Jobs Act in my opinion is too enthusiastic because in fact LIBRA will not be able to replace the USD and better LIBRA focus on developing and creating coins, no need to dream further to defeat the USD!

[Senin]

I don,t think so that libra will replace the dollar becasue still no one conform that Libra coin is going to be high and it will officially launched. We just saw on news about libra, so wait for the launch date.

Now Libra is being developed in various options for providing only one of the currencies of the states, including the US dollar. How can Libra supplant the dollar if they themselves are backed by the dollar or, say, the euro?
 Although the hype around the Libra project has subsided, there is occasional talk about the specifics of this future stablecoin. I no longer see anything special in Libra. And it makes less sense to launch this project, given the fact that digitized currencies of central banks of states, such as the digitized yuan, will soon appear and these stablecoins will presumably be in significant demand, since they will be backed by governments, not private or commercial structures.