Cryptocurrencies have received more and more attention in the world，Among them, the "Libra" (LIBRA) project launched by Facebook in June 2019 has become the target of recent attention。but but，This project has been constantly frustrated since its announcement，Not only is it questioned by many regulators in Europe and the United States，Since October, many financial institutions and enterprises have announced that they will withdraw from this project。What kind of impact will such cryptocurrencies cause，Why is it questioned，The reporter of our newspaper interviewed the relevant scholars。

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Linda Schilling, Assistant Professor of Financial Economics at Paris Institute of Technology, told this reporter，People who support the development of global cryptocurrencies believe，If real assets are supported，Establish a special independent organization for management，This currency will help reduce the cost of international transfer，Help people who Bet365 lotto review have no bank account or people living in remote areas integrate into the global financial system。The opponent said that the supervision of cryptocurrencies is still in a gray area，Decentralized cryptocurrencies are easily used by criminals，and people still have differences in the definition of cryptocurrencies，Knowing it needs to be further deepened，Therefore, you should be cautious to treat the problem of cryptocurrencies。

Some people think，Creating a global cryptocurrency helps to build a new international currency system，Get rid of some dependence on currency that is large internationally internationally internationally，Weaken the impact of the economic conditions of these currencies and its issued countries on the global economy。Xi Lin thinks，Mature and popular、Private global cryptocurrencies may have an important impact on the country's monetary policy。Although people who develop and support cryptocurrencies may be from good intentions，But the development of this global currency may weaken the central banks of various countries to control the country's currency，Affecting the flow of funds from various countries，Harm -harmful monetary policy transmission mechanism，Bet365 app download It may also erode the international status of currencies in various countries。

Steel proposed，Current，The central bank of many countries said，Open attitude towards the new currency form，Welcome to technical innovation in related fields，It will also strive to make useful innovation exploration in the currency field。But currency as a public product，closely related to the sovereignty of various countries，In order to gain people's trust and realize its key economic and social functions，cryptocurrency needs independence、Support for institutions responsible and credible。

　Autonomy or affected monetary policy of various countries

Pierpaolo Benigno, a professor of economics at the University of Institute of Science and Liberty, Italy, believes，The currency is very special，It can not only be used as a payment method，and can provide more liquidity。Each country has its own currency and the National Central Bank，and are responsible for providing liquidity to the country's market。If a country is recognized、Global currency based on digital encryption technology，So in the domestic market of this country，This currency can also provide the same liquidity as the country's currency。At this time, a situation bet365 Play online games will be formed，That is, all countries can be circulated in this country，Global currency can circulate in all countries。This will lead to the emergence of "cryptocurrency policy synchronization"，That is to say under the promotion of global currency，The nominal interest rate set by the monetary policy management agencies of various countries must be equal，The interest rate between currencies of various countries may remain unchanged for a long time，Management agencies will be difficult to pursue their monetary policy anymore or set interest rates in accordance with the needs of their country。

This is reminiscent of the classic "three yuan paradox"，Also known as "Three Difficult Selection"，is under open economic conditions，Independence of domestic monetary policy、exchange rate policy、The free circulation of capital cannot be realized at the same time，Only at most can meet two goals at the same time，You need to give up another goal to achieve regulatory purpose。But the exchange rate must be a fixed premise，Makes the above three factors more difficult to reconcile。

Beninio said，If we ignore the uncertain factors，It will be easier to understand this problem。When people hold their national currency，bet365 Play online games These currencies，Today's 10 yuan will still be 10 yuan tomorrow.。Global currency if you want to circulate like the country's own currency，It should also have similar characteristics。Not only does the value expressed by itself, it should be constant，The value expressed in the country's currency should also be constant，So，The exchange rate between the country's currency and the global currency should be constant。It is necessary to use domestic currency and global currency at the same time，In order to provide the same liquidity，It is required to be required。Because this logic can be promoted to all countries，This will require the exchange rate between various countries to remain unchanged，So forced to make the nominal interest rates in China must be the same，Maintenance of the monetary policy of various countries。

Although the central bank can set the nominal interest rate to the nominal interest rate lower than other countries，to enhance the attractiveness of the country's currency relative to global currency or other country currencies，But if countries are trying to use this method to seek to get rid of the restraint of global currency，So everything will return to the original point。If the central bank takes measures to increase nominal interest rates，Its currency bet365 best casino games will not be able to pass in the country，so that only global currency can circulate in its country。In this case，It is difficult for the central banks of various countries to play its role，and may put yourself in the danger that is unpredictable。

Stellar reminder，If the global currency is issued by a private consortium for a basket of interest calculating bonds，So the situation will become more severe。This consortium will convert poorly liquid assets into currency with high liquidity，There is the same return rate in both。Government's funds may be able to provide liquidity，But the global currency that will bring positive returns is completely squeezed out。

Simarin and Beninio call for，Like business activities and collection information through the Internet，Prevent the creation of global currency and supervise it，They are all challenging jobs。Relevant agencies need to pay attention to problems in this area，and start studying response measures as soon as possible。