Facebook released the white paper for Libra, which states that the coin will operate on the native and scalable Libra blockchain, and be backed by a reserve of assets ostensibly “designed to give it intrinsic value” and mitigate volatility fluctuations. Facebook 's stablecoin , libra , will not be legal in Russia , according to Anatoly Aksakov , the chairman of the Russian State Duma 's committee on financial markets . The creation of cryptocurrencies , trading platforms and exchanges are expected to be subjected to regulation under a major piece of Russian legislation that could be passed in the next few weeks . The French minister of the interior , Bruno Le Maire , and John Waters , the chair of the US House of Representatives ’ financial markets committee , also expressed concerns about libra , which is set to be launched next year .
Facebook 's stablecoin , libra , will not be legal in Russia , according to Anatoly Aksakov , the chairman of the Russian State Duma 's committee on financial markets . The creation of cryptocurrencies , trading platforms and exchanges are expected to be subjected to regulation under a major piece of Russian legislation that could be passed in the next few weeks . The French minister of the interior , Bruno Le Maire , and John Waters , the chair of the US House of Representatives ’ financial markets committee , also expressed concerns about libra , which is set to be launched next year .