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Libra Scales Back Global Currency Ambitions in Concession to Regulators

The Facebook-spawned Libra Association has scaled back its original vision of a global digital currency backed by a basket of fiat currencies.

Updated May 9, 2023, 3:07 a.m. Published Apr 16, 2020, 2:00 p.m.
CAPITULATION? U.S. lawmakers grilled Libra board member David Marcus last year. The consortium has overhauled its plans. (Credit: House Financial Services Committee)
CAPITULATION? U.S. lawmakers grilled Libra board member David Marcus last year. The consortium has overhauled its plans. (Credit: House Financial Services Committee)