Facebook’s blockchain lead says ‘no intention’ for Libra to influence global monetary policy

In a note from Facebook's David Marcus to the Senate Banking Committee before his hearing Marcus claimed Libra will not launch unless fully regulatory compliant. The private payment network is also not meant to undermine global monetary policy. Libra and wallet provider Calibra will both register with the appropriate regulatory bodies in the United States. As Marcus writes in the note:

I want to be clear: Facebook will not offer the Libra digital currency until we have fully addressed regulatory concerns and received appropriate approvals.