Adjunct Professor Donna Redel ’95 was quoted in a Law360 article on regulatory issues facing the rollout of Libra, Facebook’s planned digital currency.
“The Facebook connection is definitely a challenge not only for U.S. regulators, but for the other stakeholders that would potentially want to use Libra,” Redel said. “I do think that the general public, i.e. the users, are becoming more sophisticated about what blockchain is about … and I don’t know whether they themselves will adhere to a Libra financial instrument when there is going to be significant competition, including ultimately a digital dollar, a digital euro, etc.”
“Maybe the convenience of payment is overstated, given the potential central bank currencies that are going to be around, and perhaps some of the legislative hurdles might be more and not less as the U.S. dollar moves digital,” she added.