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Lagarde Libra May Gain Unfair Advantage; BTC Gathers Pace

The newly appointed  European Central Bank ECB head Christine Lagarde considers that Facebook can use its online platforms to advance Libra and create a monopoly. Photo Flickr In a letter addressed to EU leaders last week, Lagarde noted that stablecoins solve a lot of the problems connected to the crossborder payments. They provide users with effective payment instruments and contribute to the development of financial accessibility. However, according to Lagardes opinion, regulators need to pay special attention to issues related to market  stablecoin rivalry. Facebook can gain an unfair dominance by promoting its coin on social networks and blocking simultaneously competitors. In addition, Lagarde has concerns that Facebook may use social media data for its own purposes, which will also be a powerful advantage and weaken the competitive environment in the industry. She added that such stablecoins can be put into circulation only after a comprehensive associative risk assessment. Work in this direction is ongoing, but the international nature of Libra requires global coordination and consistency in regulatory matters. As for the rates of the traditional cryptocurrencies on Monday they are as follows Bitcoin surged by 1.43 percent, to 7,525; Ethereum added 0.34 percent, to 132,94; Ripple lost 0.51 percent, to 0,1951; Bitcoin Cash eased by 0.86 percent, to 195,20; Litecoin slipped by 0.05 percent, to 41,9600; Monero gained 1.05 percent, to…