Facebook Sees Libra Tied to Dollar, Euro, Yen But Maybe Not Yuan

From bnnbloomberg.ca

Facebook Inc. told U.S. senators that the initial basket of currencies that will back its Libra cryptocurrency will likely include the U.S. dollar, euro, yen, British pound and Singapore dollar. The list responds to concerns from Virginia Democratic Senator Mark Warner that China may push the Libra Association to include the yuan in the so-called stable coin, which Facebook and more than two dozen partners are currently developing. China has encouraged governments to include its currency in their reserve holdings, Warner said, asking Facebook to commit to excluding it from the Libra basket. The Libra Association ... (full story)