Libra has a new competitor

1 min reading

Facebook's Libra has been in the spotlight for the last few months, and not in a good way. Now, however, the voices of criticism are promoting a very similar project. Coincidence? Don't think so.

Chinese Libra?

Criticism of Facebook's cryptocurrency, Libra, has been coming from all over the world, but mostly from the US, China and the European Union. Despite that fact, China wants to release its virtual currency. They want to do it before their rival does. Two days ago, on the local English-language news outlet China Daily, unnamed experts revealed an opinion, that Beijing's central bank will be the first to launch their CBDC project. Facebook cannot set a date of release until they solve their problems with regulators.