The Libra Association is considering a change in the provision of coins in favor of the dollar

The Libra Association consortium is studying the possibility of providing Libra Stablecoin in US dollars, not a basket of currencies asoriginally planned. This is reported by The Block, citing its own sources.

The organization believes that changing the model will help dispel the concerns of US regulators regarding the digital coin Facebook.

The social network project for the production of stablecoin has faced the scrutiny of regulatory authorities, lawmakers and authorities.

At a hearing in the Senate Banking Committee andThe House of Representatives Financial Services Committee of the United States, representing the initiative of CEO Calibra, David Marcus was unable to convincingly answer all the questions, and avoided some.

US lawmakers see Libra as a threat to the dollar, and consider it possible to qualify a coin as a security with appropriate regulation.

Christine Smith, head of The Blockchain Association, a lobbying firm, said the model change under discussion could make a difference.

« I think the main concernLibra legislators are that it will undermine the position of the US dollar. Therefore, if they move to a stable coin based on it, it will solve many problems »She said.

In Europe, the Facebook project also metnegative reaction of the authorities. In France and Germany, they directly stated that they would block the development of Libra in the European Union. With the participation of Italy, Spain and the Netherlands, these countries formed a coalition of states that intend to oppose the Facebook project.

Even in cryptocurrency-friendly Switzerland, additional regulation has been introduced for stable coins due to social network plans.

Therefore, according to media reports, representatives of LibraAssociation are negotiating with politicians in Europe on the issue of several stablecoins, each of which will be supported by one of the fiat currencies, including the euro.

Recall, the head of Facebook Mark Zuckerberg said that Libra will not be launched without the approval of regulators.